Current data shows just 1.03 bullish comments for every 1 bearish across social platforms—reflecting peak levels of impatience and pessimism […]
The post Retail Sentiment for Bitcoin Hits Most Bearish Level Since April, Typically a Bullish Signal appeared first on Coindoo.
Current data shows just 1.03 bullish comments for every 1 bearish across social platforms—reflecting peak levels of impatience and pessimism among traders.
This ratio hasn’t been this low since early April’s “peak FUD”, a period that later gave way to a strong recovery in Bitcoin’s price.
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Historically, such lopsided sentiment often precedes upward momentum, as markets tend to move contrary to majority emotion at extreme levels.
At the time of the report on June 19, BTC was trading around $105,000, while both positive and negative sentiment commentary hovered at relatively low levels. As shown in the chart, the social sentiment divergence is often a contrarian bullish indicator.
If historical patterns repeat, this retail capitulation could be a setup for Bitcoin’s next leg higher.
The post Retail Sentiment for Bitcoin Hits Most Bearish Level Since April, Typically a Bullish Signal appeared first on Coindoo.
Source: https://coindoo.com/retail-sentiment-for-bitcoin-hits-most-bearish-level-since-april-typically-a-bullish-signal/
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