Crypto extreme fear suggests incoming inflection point: Matrixport

With Bitcoin sentiment at four-year lows, analysts have flagged historic oversold signals and potential seller exhaustion.

Crypto market sentiment has fallen to extreme lows and could lead to a “durable bottom” that exhausts selling pressure, according to analysts at crypto financial services firmMatrixport. 

“Sentiment has fallen to extremely depressed levels, reflecting broad pessimism across the market,” said Matrixport in a note on Tuesday. 

Matrixport’s own Bitcoin (BTC) “fear and greed index” suggests that “durable bottoms” form when the 21-day moving average drops below zero and reverses higher, which is currently the case.

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