[Analyst: Market Confidence Index Shows 'Extreme Negative Value,' Investor Confidence in Bitcoin's Trend Nearly Collapsed] BlockBeats News, March 2 – On-chain data analyst Murphy posted on social media, stating that the current market investor confidence index has shown an 'extreme negative value,' remaining below -0.3 for several consecutive days since February 18. The interpretation of this signal is 'very simple,' meaning that investors' confidence in BTC's trend has nearly collapsed. Murphy noted that this value indicates that the shattered market confidence is difficult to rebuild in the short term, and the time to emerge from the gloom will most likely be measured in 'months' or even 'quarters.' However, based on historical data, when the confidence index drops to the current level, it is usually followed by a rebound, or the market is spatially getting closer to the 'bear bottom.'