Against the backdrop of BTC dropping below 100,000.$ , negativity on social media has intensified and is at its peak.
The stock market is gradually beginning to recover, leading to a return of capital to cryptocurrencies. The Dow Jones, Nasdaq, and S&P 500 indices showed confident growth: the first gained 1.18%, the second and third — 1.09% and 1.03% respectively.
At the moment, Bitcoin is trading below $100,000 but is confidently holding above the support level of $90,000.
After reaching an all-time high (ATH) of $108,300 on December 16, Bitcoin experienced a correction of 8.5%. This caused profit-taking among traders, and bearish sentiments intensified on social media. For every four positive comments, there are five negative ones.
The unexpected rise of Bitcoin to ATH generated inflated expectations, but by the end of the week, the market quickly reacted to the decline of U.S. stock indices.
Pessimism in the market has filtered out "casual passengers," leaving only those who believe in the long-term growth of cryptocurrencies.