Santiment: The encryption community's bearish sentiment has reached a one-year high. This round of dumping may be a partial bottom created to trigger retail investors' stop loss.

According to the news from TechFlow, on February 3rd, Santiment stated that due to the impact of Trump's trade war, BTC fell to a low point of $91,200 and then rebounded to over $96,000. The media seems to attribute the big dump in various zones to 'Trump's trade war'.

Whether this is the main reason or there are other influencing factors, the reaction of traders in the cryptocurrency community is extremely negative. Bearish comments on social media (compared to bullish comments) have reached the highest level in over a year.

Historical data shows that the market almost always moves in the opposite direction of public expectations. Analysts believe that this round of selling may be to trigger retail traders' stop-loss orders and create a local bottom.

TRUMP-4.93%

BTC-4.79%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

7 Likes