Bitcoin sentiment hits record low as contrarian investors say $60K was BTC’s bottom

Bitcoin’s Fear & Greed sentiment indicator fell to its lowest ever level, leading some analysts to suggest that $60,000 was the bottom for BTC. Does historical data agree?

Bitcoin (BTC) pushed back above $71,000 on Monday, after market sentiment indicators across the crypto market dropped to new lows.

Some analysts believed that “extreme fear” and upside liquidity may help Bitcoin hold above its yearly-low at $60,000, but others warned that weak market conditions and bearish futures volume may push prices even lower.

Key takeaways:

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