Bitcoin · Bitcoin Magazine
Bitcoin price opened today near $63,500 after sliding below $62,000 last night
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The Bitcoin Rainbow Chart is somewhat of a logarithmic growth curve overlaid with color-coded sentiment bands.
Key facts
- The Fear and Greed Index, which runs on a scale of 0 to 100, registered 12 on Thursday, placing the market squarely in “Extreme Fear
- February 2026 saw the index touch an all-time low of 5, driven by a 52% drawdown from Bitcoin price’s peak of $126,000
- Bitcoin price opened today near $63,500 after sliding below $62,000 last night
- Bitcoin price plunged below the Bitcoin Rainbow Chart’s lowest “a Fire Sale!” band for only the second time since the FTX collapse, while the Fear and Greed Index sank to 12
Summary
Bitcoin price plunged below the Bitcoin Rainbow Chart’s lowest “a Fire Sale!” band for only the second time since the FTX collapse, while the Fear and Greed Index sank to 12. Bitcoin price dropped to levels on Thursday that placed it below the “Fire Sale!” band on the Bitcoin Rainbow Chart, a depth not reached since the catastrophic FTX exchange collapse in November 2022, as the Fear and Greed Index registered a reading of 12 out of 100, deep in “Extreme Fear” territory. Bitcoin price opened today near $63,500 after sliding below $62,000 last night. The last confirmed breach of the “Fire Sale!” floor occurred during the FTX exchange collapse in November 2022, when Sam Bankman-Fried’s crypto empire imploded and BTC cratered under forced selling pressure across the market.