Crypto market deepens decline, Bitcoin holds around $63 000

Digital assets continued their decline on Tuesday, with Bitcoin trading near $63 000 amid deteriorating sentiment and a shaky technical picture following a sharp intraday sell-off.

The total market capitalization of the crypto sector dropped by approximately 2.5% to roughly $2.19 trillion. Bitcoin is trading around $63 200 at the time of writing, down about 3.5% over the last 24 hours, after moving within a range between approximately $62 600 and $64 600.

Ethereum fell by nearly 3%, while XRP and Solana posted deeper weekly losses.

The Fear and Greed Index dropped to 11 – a level classified as “extreme fear,” highlighting growing caution among market participants. The average RSI for crypto assets remains in oversold territory for many tokens, signaling ongoing selling pressure.

Momentum remains fragile

On the hourly chart, Bitcoin’s 14-period RSI sits around 54.77, slightly below its signal value of 55.17, placing short-term momentum in a neutral zone.

The rise above the 50 threshold suggests a partial recovery for buyers after the sell-off, but the indicator remains far from overbought levels.

However, the MACD (12,26,9) points to a more cautious picture. The MACD line is around 25.93, below the signal line at 32.74, with a negative histogram of -6.81. The gap is narrowing, but a clear confirmation of a positive momentum reversal is still lacking.

Key levels under watch

Intraday price action showed a sharp decline followed by hesitant consolidation around the $63 200 zone. The market is closely monitoring support around $62 800, while resistance is forming in the $64 000–$64 400 range. A sustained break in either direction could determine whether a deeper correction or a resumption of upward momentum is ahead.

The decline coincides with a broader risk-off mood in global markets and increased volatility in macro-sensitive assets. For now, technical signals point toward stabilization rather than a confirmed trend reversal, while sentiment remains fragile.