Bitcoin Slumps Under $64K Amid Historic ‘Negative’ Sentiment

Lame price action has apparently caused crowd sentiment to be in negative territory for four straight weeks, a sign that may spell relief for bulls in the near term.

Bitcoin's (BTC) slow bleed lower over the past weeks has sped up Friday, the price dipping more than 3% in the past 24 hours to slide to about a five-week low of $63,700, now lower by 9% over the past month.

Contrarian bulls, however, might take comfort as indicators tracked by analysis firm Santiment show that crowd sentiment for BTC is now in its fourth week of “extreme negative” reading.

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