Although the prices of Bitcoin and Ethereum have stabilized in recent weeks after experiencing a prolonged cryptocurrency bear market, discussion data indicates that the entire community is still significantly bearish.According to cryptocurrency analysis company Santiment, the mention rate of topics such as "inflation" and "bear market" is constantly increasing
Although the prices of Bitcoin and Ethereum have stabilized in recent weeks after experiencing a prolonged cryptocurrency bear market, discussion data indicates that the entire community is still significantly bearish.
According to cryptocurrency analysis company Santiment, the mention rate of topics such as "inflation" and "bear market" is constantly increasing. This indicates that despite attempts to stabilize prices, traders still tend to be bearish on the outlook.
Despite stable prices, bearish sentiment persists
Ironically, the more traders express negative emotions, the greater the likelihood of prices starting to rise again. As people surrender, sustained bearish sentiment often approaches the bottom of the market.
However, for now, the public psychology seems to be deeply rooted in pessimism. This may be due to macroeconomic headwinds such as high inflation, rising interest rates, and concerns about recession putting pressure on risky assets.
Although Bitcoin remains above $25000 and Ethereum remains stable at around $1500, cryptocurrency traders seem hesitant about whether to hit the bottom. This emotion indicates that any attempt to rebound faces firm resistance.
Nevertheless, being overly bearish does provide an opportunity to counter the trend. If the overall mood reaches an extreme, any improvement in macro factors or positive news may trigger a relief rebound.
Santiment's data highlights divergent signals in the market. Although the price is temporarily stable, the public's psychology is still firmly bearish. This dichotomy makes it difficult to decide on the next major action.
The next few weeks will determine whether bearish sentiment will consolidate and drag down prices. Or will the stability of prices trigger some new optimism and the upward momentum of the cryptocurrency market return. At present, caution remains a slogan.
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