Santiment: Retail investor pessimism has reached an extreme level, and the market may see a technical rebound
BlockBeats News, on February 2, crypto market research firm Santimen posted on social media that since January 28, bitcoin has dropped by 16%, and social media has been shrouded in FUD (fear, uncertainty, and doubt). After falling to a low of $74,600, BTC has rebounded to $78,300 due to panic selling by retail investors. This once again proves that market trends often run counter to the mainstream narrative.
Negative comments about crypto assets continue to emerge, and social data shows that the current level of pessimism among retail investors has surpassed any period since the sharp drop on November 21 last year. In most cases, after experiencing such a significant wave of negative sentiment, the market usually sees a technical rebound. So far, this rebound has encouragingly shown a trend similar to the previous two FUD events.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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