Market Sentiment and Bitcoin Performance - Bitcoin dipped below $95,000, driving the Bitcoin fear and greed index to a level of 10, unseen since the FTX collapse of 2022 or the COVID pandemic crash of 2020 [1] - The Bitcoin fear and greed index reached 10, compared to 24 during the liberation day tariff announcement [2] - The market is uncertain whether the current Bitcoin price and fear/greed index of 10 represents a buying opportunity or indicates a further 50% pullback [3] Factors Contributing to Market Decline - Bitcoin's decline is attributed to US liquidity stress, long-term Bitcoin holders taking tax-driven profits, and persistent American selling [4] - November could become Bitcoin's biggest ETF outflow month ever, with mid-month outflows already hitting 23 billion [5] - ETF outflows are contributing to the weakness, with the largest daily outflows since their inception [6] - Lack of new marginal buyers is contributing to rangebound trading and weakness, with a $93,000 level identified as a potential air pocket [7] - Government shutdown-induced liquidity crunch in America is impacting crypto markets, especially on weekends [10] Potential Catalysts and Market Outlook - The timing of government liquidity reopening is crucial, with expectations that it may take another month or two to be felt [8] - The possibility of the Fed cutting rates is uncertain, but a rate cut is needed to support asset prices [9] - Sellers eventually have to be exhausted after altcoin profits are plummeting, with only 5% of altcoin investors in profit [11] - A new narrative is needed, not just for crypto, but for why markets would go up and why the American economy would be good in the following months [15] - Treasury Secretary Scott Bessent signals a potential acceleration in the economy in the first and second quarter, with Americans feeling it in 2026 due to President Trump's plans [16][17]