Analysts say that the market confidence index is extremely negative, and investors' confidence in the trend of Bitcoin is almost collapsing

On March 2nd, on chain data analyst Murphy stated that the market investor confidence index has been below -0.3 for several days since February 18th, in an extremely negative state, and investors' confidence in the trend of Bitcoin has almost collapsed. Murphy believes that this value indicates that market confidence is difficult to reshape in the short term and may need to emerge from the gloom on a monthly or quarterly basis. Historical data shows that when the confidence index drops to its current level, it usually experiences a rebound or approaches the bottom of a bear market.