(BTC() fell below $56,000 Nov. 19, complete a near 20% Correction from the All-Time High. The Crypto Fear & Greed Index, which remained in the greed zone for most of the past two months, has plummeted into the fear category with a reading of 34.

Firm that specializes in cryptocurrency research Delphi Digital has stated this in a new report that the sell-off in Bitcoin was “largely driven by a wave of liquidations rather than a fundamental shift in narrative,” and the analysts expect the drawdown to be “relatively short-lived.”