Fidelity Sells 2812 Bitcoin Marking Second Largest Outflow Ever, Will the Crypto Market Dump Intensify?

Stock and Crypto Markets Experience Major Liquidation

The stock market has witnessed a substantial liquidation of $1.05 trillion, while the crypto market has liquidated nearly $100 million.

Fidelity Sells 2812 BTC

Fidelity has marked the second-largest outflow ever by selling 2812 Bitcoin (BTC).

Market Sentiment and the Crypto Fear & Greed Index

The Crypto Fear & Greed Index has plummeted to a score of 27, indicating a heightened level of fear among investors.

Causes of Liquidation

The US Department of Justice's subpoena of NVIDIA has contributed to the decline in the stock market. Additionally, the liquidation of major cryptocurrencies, including Bitcoin, Ethereum, and altcoins, has further fueled the market sell-off.

Bitcoin's Value and Outflow

Bitcoin's value dipped to $55,000 before recovering to the $56,600 range. The second-largest outflow ever of 2812 BTC by Fidelity has also played a role in the price decline.

Analyst Predictions for Recovery

Despite the current market downturn, seasoned analysts remain optimistic. They anticipate a market recovery based on historical patterns.