Dayli Outlook: Crypto Market Before New York Open
The crypto market is in a state of extreme fear as we approach the New York trading session. Bitcoin (BTC) is near $83.9k, while Ethereum (ETH) is around $2.7k.

The upcoming New York trading session will see the crypto market in a state of extreme fear, with Bitcoin (BTC) near $83.9k and Ethereum (ETH) around $2.7k.
Introduction
The crypto market is poised for another day of volatility as we approach the opening of the New York trading session. The current state of extreme fear suggests that traders are cautious and risk-averse, which could impact the liquidity and trading volumes during the session.
Market Drivers
The global crypto market cap stands at approximately $3.04 trillion, with a 24-hour trading volume of $100.4 billion. Bitcoin (BTC) holds a market dominance of 55.19%, while Ethereum (ETH) has a dominance of 10.87%. The sentiment index currently reads at an extreme fear level of 11, indicating a high degree of caution among traders.
Scenarios
Base
In the base scenario, the crypto market is expected to remain range-bound, with BTC near $83.9k and ETH around $2.7k. The extreme fear sentiment suggests that traders may be hesitant to enter new positions, leading to lower trading volumes and reduced liquidity.
Bull
A bullish scenario could unfold if positive news or developments boost trader confidence, potentially driving BTC above $85k and ETH above $2.8k. This would require a significant shift in sentiment, possibly indicated by a drop in the fear index.
Bear
In a bearish scenario, further negative news or increased selling pressure could push BTC below $82k and ETH below $2.6k. This scenario would likely be confirmed by a continued rise in the fear index and a decline in trading volumes.
Risks & Invalidation
The primary risks include a sudden increase in the fear index, which could indicate growing panic among traders. A significant shift in BTC or ETH dominance could also invalidate the base scenario, suggesting a broader market move.
Actionable Takeaways
Traders should monitor the fear index and trading volumes closely as the New York session approaches. Positioning should reflect the current risk-averse environment, with caution advised for entering new positions until there is clearer direction.
