Bitcoin back to record fear levels as it wipes weekend gains

Bitcoin plunged over $3,000 in two hours, while the Crypto Fear and Greed Index has slumped to historic lows again.

The Crypto Fear and Greed Index fell back to its lowest levels on Monday as Bitcoin plunged more than 4% on the day to $64,300, giving back its gains since Friday. 

More than 136,000 traders were liquidated over the past 24 hours, with total liquidations sitting at $458 million, 92% of which were leveraged long positions, according to CoinGlass.

Bitcoin saw some gains over the weekend, tapping $68,600 on Saturday, but it now sits at support at the bottom of a range-bound channel that formed after its Feb. 6 wipeout to $60,000.

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