Santiment: Negative BTC sentiment hits yearly high, signaling sell-off may be ending

Negative sentiment surrounding Bitcoin has climbed to its highest level this year, according to on-chain analytics firm Santiment. The firm noted that as Bitcoin's price fell to its lowest point since Nov. 21 of last year, crypto investors have been expressing significant fear, uncertainty, and doubt (FUD). Historically, Santiment explained, this level of extreme fear often indicates that a sell-off is nearing its final stages. The firm suggested that once retail investors conclude their panic selling, institutional investors are likely to purchase the asset at low prices, potentially driving the price upward. Currently, the crypto market is also being affected by corrections in stocks, gold, and silver, and some instability is expected to continue for the time being.