BTC and cryptocurrency traders are experiencing the most panic in six months, even though the BTC price remains firmly at the $100,000 mark.
Key Points:
BTC and altcoins have fallen into the deepest "extreme fear" level since March of this year.
Based on sentiment data analysis, the cryptocurrency market may be approaching a significant turning point.
With the U.S. government shutdown crisis coming to an end, gold has diverted investor attention away from the cryptocurrency and stock markets.
Wednesday's crypto fear and greed index data confirms that traders are currently deep in the "extreme fear" zone.
Despite BTC still trading at a six-figure price with a market cap of $2 trillion, market sentiment within trading circles is almost as pessimistic as it can get.
The crypto fear and greed index, which measures market sentiment through a composite indicator, is now only at 15/100—its lowest level since early March.
This figure even surpasses the levels seen during the peak of U.S. trade tariff panic, when fear was concentrated around the "liberation day" in April, leading to a phase low for BTC/USD below $75,000.
BitQuant traders and analysts stated on the X platform: "Below 20? I've never seen this indicator so depressed."
BitQuant pointed out that the participation of small crypto investors is severely lacking—this has become a notable feature of the current bull market.
Analysis platform Santiment reached a similar conclusion in its latest research, while suggesting that the market may be on the verge of a turnaround.
Santiment noted in a report on Tuesday: "When the crowd turns negative on assets, especially the top market cap assets in the crypto market, it indicates we are approaching a capitulation point."
Santiment also specifically highlighted the phenomenon of the "bullish/bearish ratio in social media comments about BTC itself being flat," describing this phenomenon as "significantly below normal levels."
The sentiment in the cryptocurrency market continues to diverge from the stock market, with the traditional fear and greed index remaining at 35/100 on Wednesday.
The U.S. government's termination of its longest shutdown in history has had little impact on market performance, as this anticipated outcome was fully digested by the market earlier this week.
In contrast, gold and silver have become the dominant forces in the market, with gold breaking through the $4,200 per ounce mark, approaching historical highs.
Trading information platform The Kobeissi Letter pointed out that U.S. President Donald Trump's plan to issue a new round of $2,000 stimulus checks to the American public is fueling market expectations for increased liquidity.
"If the $2,000 stimulus checks are actually implemented, market momentum will accelerate rapidly. Gold and silver are always the first assets to react to these signals," the agency stated in its report.
According to Cointelegraph Markets Pro and TradingView data, as of the time of writing, the BTC/XAU ratio is nearing its lowest level in over a year.
Related: The Czech National Bank invests $1 million for the first time in history to test Bitcoin (BTC) against other crypto reserves
This article does not constitute any investment advice or recommendation. All investment and trading activities carry risks, and readers should conduct their own research before making decisions.
Original article: “Crypto Market Sentiment Most ‘Fearful’ Since March, Bitcoin (BTC) Eyes 1-Year Lows vs. Gold”
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