1814, from craunch (1630s), probably of imitative origin. Related: Crunched; crunching. The noun is 1836, from the verb; the sense of "critical moment" was popularized 1939 by Winston Churchill, who had used it in his 1938 biography of Marlborough.
1825, "to bite," intensive form of crunch (v.); ultimately imitative. Meaning "to squeeze" is recorded from 1835 (implied in scrunched). Related: Scrunching.