The sentiment index among Bitcoin traders has plummeted to its lowest point in a year, potentially signaling a recovery of the asset above $100,000, according to Santiment.
? BREAKING: Crypto’s further flush has sent Bitcoin’s crowd sentiment down to its most negative statistical point of the year. Vocal traders are now showing severe FUD, and that’s good news for contrarians who know markets move the opposite direction of retail’s expectations. ? https://t.co/lYvTWbRX25 pic.twitter.com/AfhVJwRHlj
— Santiment (@santimentfeed) December 22, 2024
Experts suggest that after a 10% retreat from the ATH of $108,300, the average ratio of positive to negative posts regarding price prospects was four to five.
“Vocal traders are showing severe FUD. This is good news for those who go against the trend. They know that markets move in the opposite direction of expectations,” the report states.
Analyst Elja Boom noted similarities between the current situation on the daily price chart and Bitcoin’s dynamics before Donald Trump’s victory in the U.S. presidential election.
We have seen this before ? $BTC #Bitcoin pic.twitter.com/JOS1rH3vcm
— Elja (@Eljaboom) December 20, 2024
“We have seen this before,” he wrote.
Earlier, Bitfinex predicted the peak of Bitcoin’s bull market in the third or fourth quarters of 2025, with a target price of $200,000. Bitwise pointed to the same figure.
Previously, K33 Research indicated a high probability of the bull run’s peak forming on January 17.