Experts from Santiment said that the index of traders' sentiment for the first cryptocurrency has dropped to its lowest in a year, which may indicate a recovery in the asset's price above $100,000. Santiment noted that after a 10% rollback from the historical maximum of $108,300, the average ratio of positive to negative posts on social networks regarding the price prospects of bitcoin was 4:5. "Traders' sentiment has changed, and they are showing a strong indicator of fear, uncertainty, and doubt (FUD). This is good news for those who are going against the trend. They know that the markets are moving in the opposite direction from expectations," the analysts said. In their opinion, the current situation on the market is similar to what was before the victory of the Republican candidate Donald Trump in the US presidential election.
If this trend among traders continues, there is a high probability that the Bitcoin rate will be able to demonstrate a new historical maximum in the medium term, experts noted. Earlier, Zach Pandl, head of research at Grayscale, said that Bitcoin's rollback from the historical maximum of $103,000 to $93,000 should not be a reason for panic.
