Santiment: A surge in negative sentiment on social media and pessimistic outlook may foreshadow a continued rebound.
PANews reported on February 3 that, according to Santiment monitoring, Bitcoin has fallen 16% since January 28, hitting a low of $74,600, and has since rebounded to $78,300. Santiment pointed out that this rebound is related to retail selling, further confirming that market trends often contradict public sentiment.
Furthermore, negative sentiment regarding cryptocurrencies has surged on social media, with retail investor sentiment reaching its most pessimistic level since the market crash of November 2021. This is the most pessimistic period for retail investor sentiment since the plunge on November 21st. Typically, a rebound occurs after such a significant period of negative sentiment. So far, this rebound has been encouraging, similar to the two previous rallies that followed widespread panic.
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