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Bitcoin Sentiment Reaches New Lows—But Signals Point to a Bullish Setup
- The market sentiment around Bitcoin is at a new low, with a split between bullish and bearish views online.
- Large-scale holders are accumulating Bitcoin while retail investors seem to be panicking and exiting the market.
- Over 231 new Bitcoin wallets holding 10 BTC or more were created in the last 10 days.
- Over 37,000 small holders have left the market, showing concern among retail investors.
- Despite the low sentiment, Bitcoin fees have reached their highest level due to institutional demand and regulatory clarity.
- The derivatives market indicates stability in Bitcoin price despite a growing long liquidation dominance.
- A sharp increase in long liquidations without a corresponding price drop suggests strong buying support.
- If the long liquidation dominance metric increases further, it could lead to a washout effect clearing leveraged long positions.
- Bitcoin whales have reversed their accumulation pattern, indicating a potential bullish setup.
- Underlying metrics suggest a more positive outlook for Bitcoin despite the current sentiment.
- The article is eligible for web story generation.
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