Crypto sentiment hits extreme fear as Matrixport flags possible bottom
With Bitcoin sentiment at four-year lows, analysts have flagged historic oversold signals and potential seller exhaustion.
Crypto market sentiment has fallen to extreme lows, a condition that has historically preceded short-term rebounds, according to analysts at Matrixport, though they caution further downside remains possible.
“Sentiment has fallen to extremely depressed levels, reflecting broad pessimism across the market,” said Matrixport in a note on Tuesday.
Matrixport’s own Bitcoin (BTC) “fear and greed index” suggests that “durable bottoms” form when the 21-day moving average drops below zero and reverses higher, which is currently the case.
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