Bitcoin Price Expectations From Crowd May Be a Bit Overstated?
BTC
🗣️ The narrative among Bitcoin discussions has switched from "wen bounce" to speculating how "low we can go". On this chart, high bars that are:
🟦 = Mentions of $50K-$59K $BTC
🟥 = Mentions of $90K-$99K $BTC
📊 When higher prices are mentioned, it's a sign of greed. When lower prices are mentioned, it's a sign of fear. Markets move opposite to what the crowd expects, meaning there can at least be founded arguments for a short-term relief rally while retail is already assuming sub-$60K Bitcoin is a foregone conclusion.