The UK FTSE 100 Index has opened 4% lower on Monday, while the German DAX is already down 6.7% on the day so far. The big Daddy of them all, the U.S. S&P 500, opens later. In the midst of this sea of red, and the possible carnage to come, Bitcoin (BTC) is fast approaching the top of its previous bull flag at $73,800. Is the crash of the century about to hit?

Will the sharpest drop in history take place?

If the S&P 500 records a further fall on Monday of 4%, it will be the sharpest drop in price since the Great Depression. At no time since then have there been three consecutive down days of 4% or more.

The U.S. stock market Fear and Greed Index has just fallen to a score of 4 in the Extreme Fear sector. This has never been seen before, and is lower than during COVID and the 2008 …