Honestly, this chart says a lot.
Right now, almost every major Bitcoin analyst is bearish. CryptoQuant’s CEO himself is saying that sentiment has turned completely negative. You can see it clearly in the data — optimism from early January slowly faded, and now we’re deep in red territory.
This usually doesn’t happen when the market is strong. It happens when people are tired, confused, and emotionally drained from watching price fall again and again.
Over the past few weeks, Bitcoin couldn’t hold key levels. Every small bounce got sold. Every “support” failed. That slowly killed confidence. Now most analysts are expecting lower prices instead of talking about recovery.
When sentiment reaches this level, it shows how scared the market is.
Retail traders are stressed. Many are holding losses. Some already closed positions. Others are just waiting, hoping for a bounce. You can feel it on social media — less excitement, more frustration.
This doesn’t mean price will suddenly pump tomorrow. Sometimes extreme bearishness can last longer than people expect. But it does tell us one thing: most people have already given up on the upside for now.
And in markets, when everyone is thinking the same way, surprises often happen.
Back in previous cycles, similar moments happened near major bottoms. In 2018, in 2020, in 2022 — sentiment was terrible before recovery started. Not immediately, but eventually.
Right now, Bitcoin is in a weak phase. Momentum is down. Volume is low. Buyers are cautious. Sellers are still in control. That’s the reality.
But this phase is also part of every long-term cycle.
If you’re trading short term, it’s risky. Volatility is high. Fake breakouts and sudden drops are common.
If you’re investing long term, this is the time to stay patient, manage risk, and not make emotional decisions.
The worst mistakes in crypto usually happen when fear is highest.
At the moment, the market is full of fear.
Let’s see how it plays out.
