Bitcoin Sentiment Hits Extreme Lows—Could This Signal the Next Big Rally?
Social sentiment around Bitcoin (BTC USD) has hit -1.126, marking a significant peak in bearish market emotions. Historically, negative sentiment at this level has preceded major price surges, raising speculation about an imminent reversal.
Why Traders Are Watching This Bearish Signal
📉 Bitcoin sentiment at -1.126 suggests widespread pessimism, a level previously seen before major price rebounds.
📉 Bitcoin fell to $83,974, dropping 1.99% in 24 hours, while trading volume surged 22.31% to $84.74 billion—indicating strong market activity.
📉 Past negative sentiment phases, such as in mid-2023 and early 2024, led to significant price recoveries once selling pressure eased.
Bitcoin’s Price Action Shows Breakout Potential
🔥 BTC hit $85,184, gaining 1.79%, breaking through its previous descending price channel.
🔥 Volume delta charts show strong buying activity, suggesting the rally is driven by real demand rather than a temporary rebound.
🔥 If BTC sustains momentum, the next target is between $86,000 and $88,000, with potential to push toward $90,000.
Key Support and Resistance Levels to Watch
⚠️ If Bitcoin fails to hold its breakout, support lies between $81,000 and $82,000, where buyers may step in for another upward move.
⚠️ Breaking above $88,000 could open the door to a $90,000 test, setting the stage for Bitcoin’s next price leg.
With bearish sentiment at extreme levels and buying pressure increasing, is Bitcoin primed for a major comeback, or will it struggle to hold its gains?
