Bitcoin Drops Amid Cooling Crypto Sentiment and Macroeconomic Headwinds

The Crypto Fear and Greed Index fell to 56, a neutral reading, from a peak of 82 on Aug. 26. Bitcoin dropped about 6%, from $86,978 to $81,749.83, as oil topped $101 and the 30-year Treasury yield reached 5.70%. Spot Bitcoin ETFs lost a net $386.3 million for October, while Ethereum funds saw an outflow of $635 million this month. Traders now give 45% odds of Bitcoin hitting $87,500 and 56% odds of BTC dropping to $80,000 in October.