This key metric is historically bullish for the crypto markets – Bitcoin (BTC/USD), Ethereum (ETH/USD)

The collapse of the troubled FTX and the arrest of its disgraced founder Sam Bankman-Fried have hurt The entire cryptocurrency market.

With increasing regulatory scrutiny and scrutiny, the crypto market is witnessing historically high negativity, not only directed Bitcoin BTC/USD And Ethereum ETH/USD, but the whole area. Now, new data shows pessimism is reaching a threshold level, indicating a potential bottom.

According to leading crypto analytics firm Sentiment, one metric is indicating an uptrend in the market based on pivot points from previous bear markets.

Sentiment says that fear, uncertainty and doubt (FUD) in the market are reaching peak levels, as determined by the prevalence of negative crypto terms. These include words like “sell” on many social media platforms.

The crypto firm said that the three altcoins indicated bullish sentiment with activity from inactive wallets.

sensitivity too They say automated yield-cultivation protocol year finance WIFI/USD Shows abnormal network activity “after a short period of depression”.

Crypto Firm Said Decentralized Crypto Exchange Uniswap UNI/USD The network is showing a strong increase in activity.

Similarly, decentralized finance project rain Ren/usd “Not lifting so strong because of its complicated financial situation.”

Read also: The Wolf of Wall Street Says He Was Wrong About Bitcoin: ‘I Really Hate Crypto’

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