Crypto market sentiment not as bullish as ‘echo chamber’ suggests, trader says
A crypto trader argued that it is easy for crypto market participants to be “convinced sentiment is one way or the other,” while claiming that the sentiment is not “that bullish currently.”
Bitcoin’s (BTC) price nearing $70,000 has sparked a shift in market sentiment, with a surge in bullish posts among traders. However, one trader warns that the market isn’t quite there yet and still has a way to go before it can truly be called bullish.
“I don’t think the sentiment is that bullish currently,” independent crypto analyst Matthew Hyland opined in an Oct. 18 X post.
He suggested that those in the crypto industry can have a volatile mindset toward sentiment, however, a shift in market sentiment also requires an increase in retail investor interest.
Go to Source
Author: Ciaran Lyons
