Bitcoin sentiment hits record low as contrarian investors say $60K was BTC’s bottom

💡 DMK Insight

Bitcoin’s Fear & Greed index hitting an all-time low is a major red flag for traders. With BTC currently at $68,664, the sentiment suggests extreme fear, which often precedes a market bottom. Historically, such lows have led to significant price reversals, but they can also indicate prolonged bearish trends. If analysts are right about $60,000 being the bottom, traders should watch for a potential dip towards that level. However, if BTC holds above $65,000, it could signal a recovery phase. Keep an eye on volume and momentum indicators; if they start to shift positively, it might be a good entry point. On the flip side, if BTC breaks below $60,000, it could trigger further selling pressure, leading to cascading effects across altcoins and related markets. Watch for institutional buying patterns, as they could provide clues on whether this sentiment shift is temporary or indicative of a deeper trend.