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The Crypto Fear and Greed Index stood at 12 on June 6, its lowest in weeks, as Bitcoin dropped to $61,100 and losses spread across every major coin.<figure id="attachment_285251" class="wp-caption alignnone"><img class="wp-image-285251 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2026/06/Screenshot-2026-06-05-at-10.52.52-PM.jpg" alt="" width="1688" height="1298"><figcaption id="caption-attachment-285251" class="wp-caption-text"> Fear &amp; Greed Index | Source: Alternative.me </figcaption></figure>The Alternative.me index measures sentiment on a scale of zero to 100. At 12, the market sat deep in extreme fear, down from 13 on June 5 and about 52 a week earlier. Bitcoin fell to its lowest intraday level since February as capital kept draining from crypto funds.<figure id="attachment_285241" class="wp-caption alignnone"><img class="wp-image-285241 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2026/06/Screenshot-2026-06-05-at-10.12.58-PM.jpg" alt="" width="2048" height="1134"><figcaption id="caption-attachment-285241" class="wp-caption-text"> Bitcoin price chart | Source: Coingecko </figcaption></figure>Spot Bitcoin ETFs recorded their 13th straight day of net outflows, with close to $400 million pulled on Wednesday alone, according to JPMorgan’s Kenneth Worthington. The streak has erased more than $4 billion from the funds since mid-May.<h3 class="text-text-100 mt-3 -mb-1 text-[1.125rem] font-bold" id="bitcoin-ether-and-the-major-altcoins-all-slid-together">Bitcoin, Ether, and the major altcoins all slid together</h3>Bitcoin fell under $70,000 in early June and slid further to around $61,100, per ChainCatcher and CFGI.io, hovering just above its 200-week moving average near $61,300, a level that has marked long-term floors in past cycles.Ether fared worse, dropping below $2,000 to trade near $1,585. The seven-day sentiment average was 19 as of June 5, the 30-day average 30, showing how fast the mood turned.The damage ran across the board. ChainCatcher data on June 6 shows BNB down 3.9%, XRP off 4.4%, Solana down 6.4%, and Cardano weaker still at 8%, with ADA sliding toward multi-year lows.CFGI.io, which tracks sentiment across more than 50 tokens, placed both Bitcoin and Ether in extreme fear, with most other majors in fear mode and only a handful of smaller tokens neutral. DEXTools said total crypto market cap lost around $110 billion over 24 hours during the early-June selling.<h3 class="text-text-100 mt-3 -mb-1 text-[1.125rem] font-bold" id="extreme-fear-has-marked-past-bottoms-but-not-always-quickly">Extreme fear has marked past bottoms, but not always quickly</h3>A reading of 12 sits near levels historically tied to capitulation. Since the index launched in 2018, comparable lows appeared at the December 2018 bear-market bottom, the March 2020 COVID crash, the June 2022 Terra-LUNA collapse, and the August 2024 selloff.In each case the market eventually recovered, though the timing varied widely. After Terra-LUNA, the index hit single digits months before Bitcoin reached its cycle low.Readings below 20 have often preceded stronger medium-term returns, but they flag panic rather than the exact point where prices stop falling.The next index revision is scheduled for June 7. Traders are watching whether Bitcoin can reclaim $60,000 and whether the ETF outflows ease after a full week of redemptions, the clearest signal that institutional selling may be slowing.Don’t just read crypto news. Understand it. Subscribe to our newsletter. <a href="https://www.cryptopolitan.com/newsletters/?utm_source=cp&amp;utm_medium=web&amp;utm_campaign=inlineAds" rel="noopener noreferrer nofollow">It's free</a>.

Crypto Fear and Greed Index drops to 12 as global selloff deepens

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