BTC sentiment hit peak bearishness at recent price lows, peak bullishness near tops: Crypto Daily
Bitcoin sentiment was most bullish near the late-May price peak and most bearish near the June 3 low, showing crowds often get most confident at highs and most fearful at lows. BTC has since fallen about 20% from its peak to around $62,400, and risk assets have weakened more broadly as AI-fueled equity momentum stalls and emerging Asian currencies slide. U.S. spot bitcoin and ether ETFs finally snapped long outflow streaks, but the inflows were tiny and don’t signal a clear trend change. The key near-term catalyst is Friday’s U.S. nonfarm payrolls report: a weak print could revive rate-cut hopes and lift risk assets, while a hot print could deepen the unwind. Bitcoin may also face a test around the $60,000 level. Bitcoin has also lagged altcoins for weeks, with the BTC-to-altcoin ratio pressing a long-standing resistance zone.
