CryptoQuant: Crypto Market Consensus Has Turned Bearish, Potentially Signaling an Imminent Reversal
TL;DR
CryptoQuant analyst notes market consensus has turned bearish, which historically signals potential reversals. The current 'index pessimism' phase may persist, requiring caution despite some bullish indicators.
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According to ChainCatcher, CryptoQuant analyst @Darkfost_Coc analyzed the market sentiment index (based on media articles, X platform data, and several other sentiment indicators), and the current market consensus has turned bearish.
@Darkfost_Coc believes that when a consensus is reached, the market often reverses, proving the majority wrong. This is illustrated in the charts during July to October 2024 and February to April 2025.
@Darkfost_Coc also stated that the "index pessimism" phase could last for some time, especially if the market enters a prolonged bear market. The market only entered this phase in early November, and although the indicator leans towards a bullish stance, caution and patience are crucial in a bear market environment.