ChainCatcher message, the cryptocurrency market research institution Santiment stated on platform X that the cryptocurrency market further retraced this week, triggering panic among retail investors. In particular, Bitcoin and Ethereum have faced a large amount of panic selling from new traders who entered the market in the past 2-3 months.
These new traders have not previously experienced medium-sized corrections, and they feel panic in the unfamiliar foreign market environment. Historically, when retail investors start to sell due to panic and emotions, whales and sharks often seize the opportunity to buy more coins with less resistance, leading to a price rebound. This rebound may not happen immediately, but market conditions are moving in the right direction.