Bitcoin has dropped below $113,000, reaching a 17-day low. Analysts note that retail investors are expressing pessimism regarding the cryptocurrency market.
Current Situation in the Bitcoin Market
Currently, Bitcoin is trading below $113,000, marking a 17-day low. According to data from the Santiment platform, retail investors are following market trends after Bitcoin's failed recovery.
Investor Sentiment and Its Implications
In the past 24 hours, retail investors have shown the worst bearish sentiment towards Bitcoin on social media in nearly two months. The last time such a strong negative trend occurred was on June 22, when the U.S. launched airstrikes on Iran due to the Israeli conflict. Analysts note that market conditions signal an opportunity for patient investors to buy.
Historical Trends and Forecasts
Analyzing Bitcoin's reaction to similar past events, Santiment analysts believe the current situation may indicate a recovery is forthcoming. Previously, on June 22, Bitcoin fell to $98,330 but subsequently recovered by 26%, reaching a new all-time high.
The situation in the Bitcoin market remains tense; however, analysts suggest this may present buying opportunities for investors willing to engage in long-term investments.
