Analysts are confident the bull market will continue despite extreme fear

Analysts are confident the bull market will continue despite extreme fear

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Fears for the retail sector are extremely high, but experienced traders and analysts say there is no need to panic yet.

The crypto Fear & Greed Index fell to its lowest level since April this weekend, following Bitcoin’s crash below $104,000 on Friday.

The market sentiment indicator registered ‘extreme fear’ with a rating of 23 on Saturday and rose to 29 on Sunday, but remains deep in ‘fear territory’.

Market sentiment hasn’t been this bad since the April crash, which was triggered by US President Donald Trump’s tariff announcement. At the time, approximately $500 billion was wiped from the total market cap, and Bitcoin fell to $76,000.

October was even worse, with a record high of $900 billion leaving the markets last weekend. Bitcoin has also deepened its correction, falling 17% from its all-time high on October 6.

Don’t panic yet

Markets have yet to recover from last week’s crash, and the overall cap remains at a three-month low of $3.72 trillion. Nevertheless, most experienced analysts and traders remain unconcerned because they have experienced these types of bull market corrections before.

Bitcoin is in an “incredibly stable and solid uptrend” this cycle, according to ‘Daan Crypto Trades.’ “Even with this recent decline, there is no major change in the market structure. But we are in a critical area,” he says. added.

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“To me, a move back below $100,000 would mean a bigger and longer correction. At that point, there will be a lot of questions about whether the cycle is over or not.”

BTC needs to “rise from the ashes of last week’s events” to regain momentum, he said.

Analyst ‘Sykodelic’ said the markets are still in an uptrend, noting that any decline has reached the 50-week moving average, and rebounded like last week.

“There is massive fear in the market, with the majority selling in panic and everyone saying it’s over,” they noted.

Meanwhile, analyst ‘Crypto₿irb’ noted that extreme fear has struck for the fourth time this cycle as ETFs rushed to sell, leaving October deeply in the red.

“In short, pressure on the downside is increasing. BTC is trading near $107,000, fear is spiking, volatility is increasing. ETF liquidity is still strong, miners stable […] The market is preparing for an even bigger wave. When fear peaks, volatility wins.”

Analyst ‘Mr Anderson’ was also confident that the bull market was not over yet. to predict a cycle peak of $148,000.

Crypto Market Outlook

There has been little change in the crypto markets over the past 24 hours. Bitcoin traded in a very tight range between $106,000 and $107,000 and has failed to break the support and resistance at $108,000.

Ethereum peaked above $3,900 on Saturday but could not hold and fell back to the $3,850 level, also failing to break the resistance above $4,000. The altcoins were left battered and bruised this weekend with very little movement in either direction.

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