Are Bullish and Bearish Sentiments Exhausted Two Perspectives from the Internet What Do You Think

The cryptocurrency market has recently suffered a significant decline, with ETFs experiencing continuous net outflows and a lack of long-term themes and external new funds. This stands in stark contrast to the traditional stock market, which has repeatedly hit new highs. Bitcoin has dropped to 61K, while ETH remains at 3300. What do you think the next step is: to remain optimistic or to spiral downward? Two KOLs on Twitter have expressed two different views, which may represent the calculations of both long and short positions.

Andrew Kang, who has recently been bearish, stated that there are reasons to be bullish as well. He mentioned news of Mt.Gox distributing Bitcoin, the German government selling coins, and ETF net outflows, and expressed disbelief in the sustainability of support levels and ranges. In addition, Nvidia’s stock price appears to have reached a short-term high (note: this may refer to the potential relevance of the technology sector).

The continuous net outflows of ETFs have left only leveraged and short-term traders as the remaining buyers, a trading condition that usually leads to a dumping of billions of dollars.

In a recent prediction, Andrew Kang expects to see a new high for Bitcoin in 2025, but is uncertain about the prospects for competing coins (Alts) and does not rule out extreme price corrections in the coming months.

KOL Miles Deutscher, on the other hand, believes that it is actually quite easy to create reasons to be bullish, such as the November US presidential election, crypto-friendly regulatory positions, the upcoming ETH ETF launch, the rotation of profits from traditional stocks to cryptocurrencies, and the oversold market or peak bearish sentiment. He emphasizes the importance of listing both favorable and adverse reasons to avoid bias.

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