Bitcoin eyes $100K as fear spikes and altcoins lose steam

Key Takeaways

How severe is the current crypto market selloff?

Bitcoin and Ethereum have both dropped by 11% over the past seven days, and altcoins have suffered even greater losses.

What does investor sentiment look like?

The Crypto Fear & Greed Index has crashed to 28, extreme fear territory, and its lowest reading in over a month.

Bitcoin’s fourth consecutive day of decline has deepened market anxiety, pushing the broader crypto sector into fear territory. 

Ethereum [ETH] and most altcoins have mirrored the downtrend, erasing a week’s worth of gains as traders brace for potential further downside.

Bitcoin and Ethereum drop over 10% in seven days

According to CoinMarketCap data, Bitcoin [BTC] has lost nearly 11% in the past week, dropping to around $104,000 at the time of writing. 

The move extends its correction from the $125,000 peak reached earlier this month. It brings it dangerously close to the $100,000 psychological level, a zone last tested in June 2025.

Ethereum has fared little better. The second-largest cryptocurrency has also dropped by about 11%, trading near $3,700 after failing to sustain momentum above $4,300 earlier in October. 

Four straight days of red candles now threaten to drag ETH back toward the $3,000 range unless buyer demand returns.

Altcoin market struggles to hold ground

The broader altcoin market has been hit even harder than Bitcoin and Ethereum. According to CoinMarketCap, several leading assets have recorded double-digit losses over the past week.

Among the top 20 cryptocurrencies, Cardano [ADA] fell 20.8%, Dogecoin [DOGE] dropped 24.2%, and Solana [SOL] slid 16.1%. 

Layer-1 networks, such as Avalanche [AVAX] and Sui [SUI], also experienced steep corrections of 26.1% and 25.8%, respectively — underscoring the severity of the sell-off.

The Altcoin Season Index currently stands at 28, indicating that the market has shifted decisively back toward Bitcoin dominance. 

Source: CoinMarketCap

The total altcoin market capitalization stands at nearly $1.46 trillion, down from approximately $1.7 trillion earlier in the week, reflecting broad investor caution.

Extreme fear takes hold

The Crypto Fear & Greed Index has plunged to 28, its lowest level in over a month, indicating that investor sentiment has swung from optimism to caution. 

Historically, such readings coincide with periods of market capitulation—or signal potential reversal zones when selling pressure becomes overstretched.

Source: CoinMarketCap

Volatility may persist in the short term as traders weigh macroeconomic uncertainties and liquidation risks after last week’s sharp downturn.

Eyes on $100K support

With both BTC and ETH in retreat, the key levels to watch are $100,000 for Bitcoin and $3,500 for Ethereum. 

A decisive break below those thresholds could trigger further liquidations and push the total crypto market cap below the $4 trillion mark.

Conversely, if buyers defend these supports and the Fear & Greed Index begins to recover, the correction could give way to consolidation before a potential rebound heading into late October.