#ChristmasMarketAnalysis
As BTC dips below $100,000, negativity on social media has surged to its peak.
The stock market is gradually recovering, driving capital back into cryptocurrencies. The Dow Jones, Nasdaq, and S&P 500 indices posted solid gains—rising by 1.18%, 1.09%, and 1.03% respectively.
Currently, Bitcoin is trading below $100,000 but remains firmly above the $90,000 support level.
After reaching its all-time high (ATH) of $108,300 on December 16, Bitcoin corrected by 8.5%. This led to profit-taking among traders and a noticeable increase in bearish sentiment across social media. There are now five negative comments for every four positive ones.
Bitcoin’s unexpected surge to its ATH created inflated expectations, but by the end of the week, the market quickly responded to the downturn in U.S. stock indices.
Market pessimism has filtered out the “casual passengers,” leaving only those who believe in the long-term growth of cryptocurrencies.