Is the crypto bull market over? Retail sentiment is ‘worst it’s been in years’

Because the crypto markets stall and the worry and greed index hits a low of 35, many traders 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 control of its new Crypto Activity Drive, 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 absolutely deployed. All speculators are blown up. All narratives are absolutely priced in. Bitcoin flows stay confined and now not filter into Alts. The one factor that might push this market increased is a fed pivot or some Trump motion that will increase liquidity!”

Bitwise CIO Matt Hougan commented:

“There’s a fully huge disconnect between retail {and professional} sentiment in crypto proper now. Retail sentiment is the worst it’s been in years, whereas skilled traders are terribly bullish. It’s like dwelling in two fully 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 can 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 principles. We’re all making an attempt to make a buck. No one is deceptive anyone. In case you are shopping for and promoting shitcoins you ought to be ready to lose your funding. It’s a danger.”

The bullish case for crypto

Regardless of the general fatigue from retail out there, 68% of traders imagine Bitcoin will hit $200k in 2025. Jeff LaBerge, Head of Capital Markets and Strategic Initiatives at Bitdeer, advised Roundtable that whereas predicting Bitcoin’s worth was tough, the “$150,000 to $200,000 vary is definitely within the playing cards this yr.”

Macroeconomist Henrik Zeberg acknowledged that sentiment was within the gutter however that circumstances have been ripe for a “huge crypto bull market” earlier than April and that there was a “lower than 5% likelihood” that the cycle high is in.

Regardless of present bearish sentiments from retail traders, many consultants imagine that cryptocurrency nonetheless has vital development potential and will see substantial positive aspects earlier than year-end.

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