Santiment said that when many analysts and traders are claiming that the cryptocurrency market has bottomed out, the market low is unlikely to be formed at this moment.
"When you see broad market consensus on a particular price bottom, be vigilant," Santiment said in a report published on Saturday, adding that "real bottoms tend to occur when most people expect prices to fall further."
Mr. Santiment noted that the idea that "the market has bottomed" had become a trending topic on social media recently after bitcoin briefly dipped below $95,000 on Friday amid a broader decline in technology stocks. "This shows that many traders think the worst is over," Mr. Santiment said. But the platform believes that historical data shows that prices tend to fall further after such market sentiment.
When the price of a cryptocurrency falls below a certain psychological threshold (e.g. Bitcoin falls below $100,000), cryptocurrency market participants tend to declare that the market has bottomed out.
Santiment: The current "bottoming consensus" is not reliable, and the crypto market may still have downside risks
2025-11-15 03:42:44
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