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As many of us gear up for the holiday season, the market is not looking quite as cheerful. Sentiment is dire, momentum is weak, and all this talk about inflation and policy uncertainty has us longing for optimism wherever we can find it. However, after staring at some of these charts, we felt compelled to share some quick thoughts on the potential risks ahead (at least in the short-to-medium term), so let’s all raise a glass and toast to hoping any recent pessimism is sorely misguided.
For starters, market sentiment towards crypto is in the gutter. We highlighted in yesterday’s Daily how BTC has tumbled over 30% from its November peak and is now trading at levels last seen in early October, though sentiment appears much more “fearful” this time around.
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