Bitcoin Slumps to $61,100 as Fear & Greed Index Crashes to 12

Bitcoin has plunged from the $77,000 range in late May to $61,100 by June 6, erasing over $170 billion in market value amid cascading liquidations and institutional selling. The Crypto Fear & Greed Index slid from neutral 50 on May 15 into persistent fear at 39 by May 19, then collapsed to extreme fear at 12 as $4 billion exited spot Bitcoin ETFs and $1.5 billion in leveraged positions were wiped out on June 2. Whale portfolios concentrated in BTC and ETH while traders fled to stablecoins, pushing the index deeper into capitulation territory and leaving BTC testing its 200-week moving average near $61,300.