Bitcoin Sentiment Turns Negative Again as Market Optimism Weakens
Summary
- Bitcoin's Unified Sentiment index fell to -11 and is continuing to decline.
- Darkfost said the period of extreme greed has passed and pessimistic sentiment is beginning to take hold across the broader market.
- He said the current reading remains close to neutral, but indicates Bitcoin market sentiment is clearly deteriorating.
Forecast Trend Report by Period
Bitcoin market sentiment has slipped back into negative territory again, a sign that optimism is weakening, according to an analysis.
Darkfost, a cryptocurrency analyst, wrote on X on October 27 that Bitcoin's Unified Sentiment index had fallen to -11 and was continuing to decline.
"The period of extreme greed has passed, and pessimism is starting to take hold across the broader market," Darkfost wrote.
He added that the reading remained close to neutral, but said it showed Bitcoin market sentiment was clearly deteriorating.
The index moves between +100 and -100 and is calculated by combining the crypto Fear & Greed Index with CoinGecko's market sentiment indicator. Each measure is standardized against the past year.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.