Bitcoin Plunges to IDR 1.59 Billion, Market Sentiment Enters Extreme Fear Zone

JAKARTA - In the past 24 hours, Bitcoin (BTC) fell to US$95,400 (IDR1.59 billion), showing virtually no change, with a 0.55% decline in the past 24 hours.

Amazon Financial Expert, Panji Yudha, stated that the price is the lowest level since the steep decline in April 2026. BTC has fallen 9% in the past five days, hitting a seven-month low of US$93,043 (IDR1.55 billion).

"Market sentiment has fallen into the 'Extreme Fear' zone, with the Fear & Greed Index plummeting to 10. This score is the lowest level since late February," said Panji. He explained that Bitcoin's downward trend was due to selling pressure from institutional investors.

The market was shocked by the sale of US$463.1 million worth of Bitcoin by BlackRock clients. This sell-off marked the largest daily Bitcoin sell-off ever recorded by the world's largest asset manager.

This massive selling by large investors then triggered an outflow of funds from the crypto and ETF markets, further driving prices down.

According to him, when institutions withdraw large sums of money, the market views it as a sign of declining confidence, which worsens sentiment.

Furthermore, Panji added, pressure is intensifying as the market begins to doubt the possibility of the Fed cutting interest rates in December 2025.

"The CME's FedWatch tool now places the probability of a 25 basis point (25 bps) interest rate cut at just under 50%," he concluded.