Analysis: Bitcoin Social Sentiment Index Hits Near 4-Year Low, 200-Week Moving Average Indicates Bitcoin Bottom at $58,000
BlockBeats News, February 7th, according to analyst @alicharts citing Santiment data, the Bitcoin social sentiment index has hit a nearly 4-year low, indicating retail investor panic has peaked.
Furthermore, from a technical perspective, Bitcoin has approached the 200-week moving average (currently around $58,000), a line that has historically served as a bear market bottom and accumulation zone over the past 12 years.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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