Bearish crypto sentiment and BTC bottom debate
Crypto sentiment is described as worse than any time since FTX, while traders debate whether one more flush is needed before a BTC bottom.
What we know
Traders describe sentiment as the worst since FTX. One trader would like another hard BTC flush and floats a fast pump then dump before a swing bottom. An options trader notes BTC was quiet while NQ/SPX bounced, with steady Binance spot buying since the liquidation move but defensive skew (25d skew about +3.4%). One trader also expects a BlackRock-led ETH rally toward $9K; this is a personal view.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.