Editor's PiCK
[Analysis] "Cryptocurrency Market Turns Bearish in Two Weeks... Decline in Meme Coins, Focus on Bitcoin"
Minseung Kang
Summary
- The cryptocurrency market reportedly shifted rapidly from bullish to bearish in two weeks.
- Investor interest in Bitcoin has increased, while interest in meme coins has plummeted.
- It was added that the "period of fear" can be an opportunity for investors.
The sentiment in the cryptocurrency market has recently shifted rapidly, with a focus on Bitcoin (BTC), according to an analysis.
On the 23rd, cryptocurrency data analysis firm Santiment stated on X (formerly Twitter), "The cryptocurrency market has astonishingly shifted from bullish to bearish in just two weeks," adding, "As the market capitalization of altcoins undergoes adjustments, interest in meme coins has plummeted, while interest in Bitcoin has increased."
Santiment added, "FUD (Fear, Uncertainty, Doubt) driven by crowd psychology is a natural part of the market cycle," and "the period of fear (blood in the streets) can be an opportunity for traders."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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