"Despite Bitcoin's Downtrend, Market Bullish Expectations Remain"

Despite Bitcoin (BTC) dropping to the $105,000 range, investor optimism toward a bullish market outlook remains strong.

According to Cointelegraph on the 2nd (local time), the Crypto Fear & Greed Index, a gauge of sentiment in the virtual asset market, recorded 63, indicating a state of greed. Despite the recent downtrend, investor sentiment still leans bullish.

The media interpreted, “Bitcoin recently rose to the $109,000 level, boosting optimism, but has ultimately become trapped in another short-term downtrend.”

Renowned trader Dan Crypto Trades explained, “This quarter, both Bitcoin and Ethereum (ETH) have generally seen sluggish movements,” adding, “This is largely because liquidity and trading volume usually decline during the summer.”