Crypto traders have not yet shown enough fear on social media to confirm a market bottom, according to a prominent analyst who believes Bitcoin could still slide to around $75,000.
“It looks very tempting to come even closer to it,” said Maksim Balashevich, founder of crypto market sentiment platform Santiment, in a YouTube video published on Friday. A move to the $75,000 level would represent an approximate 14.77% drop from Bitcoin’s (BTC) current price of $88,350, per CoinMarketCap.
Balashevich explained that his hesitation comes from observing continued optimism online about a swift reversal of the recent downtrend—a sentiment he said is not typical when a true market bottom is forming.
“The crowd isn’t scared enough for a bottom,” Santiment stated in a report the same day. Overly optimistic comments are “not what I want to see,” Balashevich added. He pointed out that many discussions in retail-dominated channels focus on topics like the Bank of Japan cutting rates, trapping bears, and expectations of upward continuation.
“These kinds of statements are not what I want to see,” he said, emphasizing that if sentiment were more fearful, he would be “very confident” in calling a market bottom.
Japan’s central bank recently raised interest rates to a 30-year high of 0.75%—a move previously associated with roughly 20% corrections in Bitcoin’s price. However, Balashevich suggested that if Bitcoin does fall to $75,000, it could provide a “very good setup” for traders looking to enter the market.
Looking further ahead, Jurrien Timmer, Fidelity’s director of global macro research, predicted that Bitcoin could “take a year off” in 2026, with the price potentially dropping to around $65,000. In contrast, Bitwise chief investment officer Matt Hougan expects 2026 to be an “up year” for Bitcoin.
### Conflicting Market Indicators
While Balashevich remains cautious about declaring a market bottom, key crypto market indicators suggest otherwise. The Crypto Fear & Greed Index, which measures overall sentiment, has lingered in “Extreme Fear” territory since Dec. 14. On Sunday, the index posted a score of 20, signaling widespread caution among investors.
Other indicators also point to risk-off positioning among traders. The Altcoin Season Index, which tracks the performance of the top 100 altcoins relative to Bitcoin over the past 90 days, gave a “Bitcoin Season” reading of 17 out of 100 on Saturday.
Related: Bitcoin institutional buys flip new supply for the first time in 6 weeks
With market sentiment indicators and analyst opinions diverging, traders and investors will continue watching for signs of capitulation to help confirm a sustainable market bottom for Bitcoin.
https://cointelegraph.com/news/crypto-market-sentiment-fear-levels-bitcoin-price-slide-santiment
