Because the crypto markets stall and the worry and greed index hits a low of 35, many buyers are questioning if the crypto bull market is over as determined merchants dangle on for a long-awaited “Alt Season.”
However with a pro-crypto president within the White Home issuing government orders to research a strategic bitcoin reserve, a sovereign wealth fund, and overhauling the SEC with ‘crypto Mother’ Hester Pierce in command of its new Crypto Job Pressure, why isn’t the market reacting to this bullish information?
Crypto Banter’s Ran Neuner posted:
“Market exhaustion is an actual factor. The altcoin market is completely exhausted! All patrons are totally deployed. All speculators are blown up. All narratives are totally priced in. Bitcoin flows stay confined and now not filter into Alts. The one factor that might push this market larger is a fed pivot or some Trump motion that will increase liquidity!”
Bitwise CIO Matt Hougan commented:
“There’s a completely large disconnect between retail {and professional} sentiment in crypto proper now. Retail sentiment is the worst it’s been in years, whereas skilled buyers are terribly bullish. It’s like residing in two utterly separate worlds.”
Bloomberg analyst James Seyffart identified, “Really feel like its as a result of retail is holding a ton of alt cash and memecoins and many others which might be down actually dangerous,” whereas ‘El Presidente’ Dave Portnoy didn’t maintain again in his message to altcoin merchants:
“To all of the shitcoiners crying proper now. Everyone knows the foundations. We’re all making an attempt to make a buck. No one is deceptive anyone. If you’re shopping for and promoting shitcoins try to be ready to lose your funding. It’s a threat.”
The bullish case for crypto
Regardless of the general fatigue from retail out there, 68% of buyers consider Bitcoin will hit $200k in 2025. Jeff LaBerge, Head of Capital Markets and Strategic Initiatives at Bitdeer, instructed Roundtable that whereas predicting Bitcoin’s value was tough, the “$150,000 to $200,000 vary is actually within the playing cards this 12 months.”
Macroeconomist Henrik Zeberg acknowledged that sentiment was within the gutter however that circumstances had been ripe for a “large crypto bull market” earlier than April and that there was a “lower than 5% probability” that the cycle high is in.
Regardless of present bearish sentiments from retail buyers, many consultants consider that cryptocurrency nonetheless has vital progress potential and will see substantial positive factors earlier than year-end.
Bitcoin Market Information
On the time of press 2:23 pm UTC on Feb. 9, 2025, Bitcoin is ranked #1 by market cap and the value is up 0.12% over the previous 24 hours. Bitcoin has a market capitalization of $1.91 trillion with a 24-hour buying and selling quantity of $22.97 billion. Be taught extra about Bitcoin ›
Crypto Market Abstract
On the time of press 2:23 pm UTC on Feb. 9, 2025, the entire crypto market is valued at at $3.15 trillion with a 24-hour quantity of $77.37 billion. Bitcoin dominance is at the moment at 60.53%. Be taught extra in regards to the crypto market ›
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