Famous Analyst Everyone Said Negative on Bitcoin: This Data Has Returned to Pre-Rally Levels! - Coin Bulletin

Bitcoin (BTC) reached its highest level in history, leading investors to adopt a more pessimistic outlook. This situation was reflected in the decline of Bitcoin's sentiment rate.

According to the Twitter post of on-chain analyst Axel Adler, who frequently appears on CryptoQuant, the sentiment ratio of Bitcoin has returned to the levels seen in September 2024. This period** overlaps with the phase before Bitcoin started its major rally**. Adler states that investors are approaching the current market uncertainties and volatility with caution. The negative sentiment situation that started in September 2024 indicates that investors' confidence in Bitcoin is beginning to wane.

Investors' emotional reactions

Increasing pessimism regarding the future of Bitcoin has started to spread rapidly due to the effects of uncertainty in the markets and major fluctuations. Investors are approaching short-term price fluctuations more cautiously, and this situation has also led to a decline in sentiment rates. The re-emergence of a mood similar to that before the rally that began in September 2024 is drawing the attention of market analysts.

Bitcoin investors are currently exhibiting a cautious approach towards potential future gains, just as they did before the rise that started in September 2024. In particular, the impact of price fluctuations on investors is leading to increased negative expectations in the market. This situation is creating more questions about the future of Bitcoin.