Bitcoin returns to historic fear levels as it wipes weekend gains

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

The Crypto Fear & Greed Index fell to its lowest levels on Monday as Bitcoin plunged more than 4% to $64,300, erasing 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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