Bitcoin has slipped below $87,000, but the move looks more like controlled de-risking than a breakdown. With sentiment cooling into year-end and liquidity thinning, price action is compressing rather than unraveling. The Crypto Fear and Greed Index at 27 places the market firmly in “fear” territory, yet there are few signs of panic selling. Instead, buyers continue to engage near well-defined support, suggesting positioning is cautious, not capitulatory.
That restraint is visible across the broader market. Total crypto market capitalization is holding near $2.94 tn, while daily trading volume