Crypto ‘Extreme Fear’ Returns With Bitcoin At $75K – Retail Traders Say BTC Bulls Missed The Tech Rally

• Bitcoin fell nearly 2% in the last 24 hours, even after the S&P 500 and Nasdaq Composite reached fresh record highs.
• Retail traders on Stocktwits criticized the “opportunity cost” of remaining invested in crypto while technology stocks continued climbing to record highs.
• Ethereum and Solana led losses among major cryptocurrencies, with retail sentiment around both tokens in bearish territory.

The cryptocurrency sentiment gauge flashed ‘extreme fear’ again on Wednesday after Bitcoin (BTC) fell back to $75,000, and retail traders on Stocktwits pointed to the “opportunity cost” of missing the rally in technology stocks.

The cryptocurrency Fear & Greed Index fell to a reading of 25 out of 100 on Wednesday, a dip of over 10 points from the previous session. Bitcoin’s price extended losses, tumbling 1.9% lower to around $75,800 in the last 24 hours from an intra-day high of $77,800. 

Bitcoin was among the top trending tickers on Stocktwits at the time of writing. Retail sentiment around the apex cryptocurrency on the platform remained in ‘bearish’ territory over the past day, alongside ‘normal’ levels of chatter.

Tech Stocks Push Higher While Bitcoin Struggles

Bitcoin’s price fell even as U.S. after a tech-drive rally lifted the S&P 500 and Nasdaq Composite to new records on Tuesday. In pre-market trade on Wednesday, the SPDR S&P 500 ETF (SPY) edged 0.3% higher, while Invesco QQQ Trust (QQQ) and the SPDR Dow Jones Industrial Average ETF Trust (DIA) gained around 0.5%. 

Retail traders on Stocktwits expressed their frustration around Bitcoin’s recent weakness while large-cap technology stocks showed sustained gains, arguing that investors chasing crypto had missed one of the strongest equity rallies in years.

One user criticized Bitcoin’s longer-term relative performance versus equities, pointing to the “opportunity cost” of remaining heavily vested in crypto during the stock market’s multi-year advance.

Bitcoin’s price has fallen over 13% this year, while the S&P 500 has gained over 9%. 

Long Traders Bear The Brunt Of The Crypto Selloff

Ethereum (ETH) and Solana (SOL) led losses among the top 10 cryptocurrencies by market capitalization on Wednesday morning. Ethereum’s price fell over 2.2% in the last 24 hours, attempting to remain above $2,000. Retail sentiment around the leading altcoin on Stocktwits fell to ‘bearish’ from ‘neutral’ territory over the past day, accompanied by ‘high’ levels of chatter.

Meanwhile, Solana’s price tumbled around 2% to just above $83. Retail sentiment around SOL fell to ‘extremely bearish’ from ‘bearish’ territory over the past day, alongside ‘normal’ levels of chatter.

Ripple’s XRP (XRP) dipped 1.9% and Binance Coin (BNB) was down 1.2% in the last 24 hours. The overall cryptocurrency market fell 1.5% to around $2.62 trillion. CoinGlass data showed around $326 million liquidated over the past day, with nearly $250 million coming from long bets that were forced to unwind.

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