Crypto Fear and Greed Index Falls to 11; Bitcoin Near $65K

The Crypto Fear and Greed Index dropped to 11 on June 3, 2026. At 1 p.m. EDT Bitcoin traded near $65,853, down about 2% to 3% over 24 hours and roughly 8% to 12% on the week. Bitcoin’s price is about 47% below its 2025 peak above $126,000. The broader crypto market’s total capitalization was roughly $2.27 trillion, with Bitcoin accounting for about $1.3 trillion.

The index stood at 23 the previous day, 25 a week earlier and 40 a month earlier. The one-day fall to 11 marked a sharp change in market sentiment over a short period.

U.S. spot bitcoin ETFs recorded billions in outflows across recent sessions. One large ETF registered more than $2 billion in cumulative redemptions over several days, and some single-day withdrawals exceeded $600 million. Market participants pointed to stronger-than-expected U.S. jobs data that pushed back rate-cut expectations and kept Treasury yields elevated. Several traders also cited geopolitical tensions in the Middle East as a factor in reduced risk appetite among institutional investors.

More than $1.8 billion in leveraged positions were liquidated in recent sessions, with long positions taking the majority of losses. On-chain indicators and price charts showed several technical supports breached. Traders identified the $65,000 area as the immediate level to monitor; the 200-week moving average near $60,000 to $61,000 was noted as the next significant technical level. Some market participants discussed $50,000 as a potential capitulation level.

On social channels, one trader posted in all caps, “BTC WILL DROP TO $50K IN JUNE,” citing a relative strength index near 37, heavy selling volume and ETF outflows. Gold advocate Peter Schiff posted that he viewed market complacency as high and that a break below $50,000 could lead to a faster decline.

Historical data show readings below 20 on the Fear and Greed Index have at times preceded longer-term buying opportunities. Analysts tracking on-chain data have observed periods when long-term holder accumulation diverged from short-term ETF flow patterns. Post-halving supply dynamics and expanding institutional infrastructure remain documented market features.

Market participants said attention remains on ETF flows and whether the recent redemptions will subside. The $65,000 level is being watched in the near term, with $60,000 to $61,000 and $50,000 cited as subsequent reference points by traders and analysts.