Bitcoin price plunged below the Bitcoin Rainbow Chart’s lowest “Basically a Fire Sale!” band for only the second time since the FTX collapse, while the Fear and Greed Index sank to 12.

Bitcoin continues June with a dip below $70,000, its first since mid-April, as crypto markets spark $800 million in liquidations over 24 hours.

The jump signals return of fear after two months of calm market sentiment.