[Analysis: Market Watches Whether Extreme Sentiment and Technical Oversold Signals Will Drive a New Turning Point] According to Cointelegraph, the current crypto market sentiment has dropped to an 'extremely depressed' level, potentially nearing the formation of a 'persistent bottom,' with selling pressure possibly gradually weakening. Data shows that the Alternative 'Fear and Greed Index' has hit 10 (out of 100), falling into the 'extreme fear' range, marking its lowest level since June 2022. Analysts suggest that Bitcoin's current price is approximately two standard deviations below its 20-day moving average, a situation that has occurred only three times in the past five years. Historical data indicates that in similar extremely oversold conditions, a technical rebound is more likely within the following 20 trading days. If Bitcoin closes February in decline, it will mark its fifth consecutive month of losses, one of the longest losing streaks since 2018. The market is closely watching whether extreme sentiment and technical oversold signals will jointly drive the formation of a new turning point.