Analyst: Crypto market sentiment at its worst since summer 2024

Crypto market sentiment has fallen to its lowest level since the yen carry trade liquidation event of summer 2024, according to an analysis by Andre Dragosch, Head of Research for Europe at Bitwise. In a post on X, Dragosch noted that the daily crypto asset sentiment index has dropped to -2.8 standard deviations. He explained that while contrarian investors are interpreting this as a buy signal, they should carefully manage the size of their positions.