Crypto market erases most post‑2024 election gains as Total3 cap falls from ~$1.19T to ~$713B; BTC near $68K, ETH down ~60% — Michael Burry warns of possible slide to $50K

first published 2026-02-22T00:04:36Z

Market retraced much of the post‑2024 election rally: Total3 Market Cap (ex BTC/ETH) peaked near $1.16T–$1.19T in late 2024/Oct 2025 and has slid to about $713B. Bitcoin dipped toward $60,000 then modestly bounced into the high $60,000s; Ether plunged roughly 60% from an Aug 2025 high near $5,000 to the low $2,000s. Sentiment is deeply bearish (Fear & Greed ~14) and liquidity has retreated, leaving negative price impact and rangebound conditions. The article flags macro uncertainty, ETF and regulatory developments, and shifting risk appetite as key drivers and recommends a Hold stance while monitoring specific support levels.

AI Analysis

Reported data: Total3 fell from ~1.16T–1.19T peaks to ~713B; BTC moved toward $60K then into high $60Ks; ETH fell ~60% from ~$5K to low $2Ks; Fear & Greed Index ~14; liquidity retreat producing negative price impact and rangebound market. These concrete, negative price and liquidity metrics justify a bearish sentiment and moderate market impact for short‑term traders.

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