Economist Henrik Zeberg believes that current market conditions are ripe for a large bitcoin (BTC) loss.
Zeberg tells Are 173,900 followers on the social media platform X that market sentiment has become so low that it can indicate the soil for Bitcoin and other digital assets.
“BTC reached ATH (All-Time High) on January 20. Since then it has been in a correction. The EW (Elliott Wave) location seems clear. Sentiment is in the gutter. Mass destruction between alts. But that could be precisely the sentiment that we need to move the market higher. ”
Zeberg says he believe The top is not yet responsible for the current crypto cycle, Despite Bitcoin’s recent dip.
“BTC has fallen 1.5% a week! People who behave like we have a complete crash! Get a grip on …
TOP is not responsible for BTC and Alts. ”
Meanwhile, prominent analysis company Santiment out Market sentiment for Bitcoin is still relatively high on the basis of listings on social media.
Santiment says that more retail traders return to Bitcoin after Altcoins has collapsed, and the company is optimistic about the future of BTC because of the potential pro-Crypto policy that comes from the government of US President Donald Trump.
“Despite the fact that Bitcoin -11% is all time compared to its January 20, the retail sentiment is active high in the direction of Cryptto’s number one. Many have returned as a relative ‘safe haven’ while Altcoins has been heavily considered. There is also a continuous optimism that will inevitably create Bullish Momentum for BTC, in particular.
Ideally, we would like to see that part of this public comes down to optimism, because the prices will move historically in the opposite direction of their expectations. Although there is no guarantee that this will happen, it can be a further withdrawal for small traders to respond again and sell panic.
But of course, with so many positives that indicate a bullish long-term crypto-survey (including the continuous accumulation of the most important stakeholder during this volatility), the roller coaster of emotions of the crowd plays only a limited role in the following movements of Crypto. “
Bitcoin acts for $ 96,622 at the time of writing, flat in the day.
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Generated image: midjourney
