While crypto prices have managed to stabilize after last week’s violent shakeout, sentiment remains buried in extreme fear territory. Bitcoin has spent the weekend hovering near $70,000, with Ethereum holding around $2,100 and XRP above $1.40. Solana is attempting to claw back above $90. Yet despite the pause in selling, investor confidence has yet to recover.
The Fear and Greed Index dropped to 7 on Sunday – its third straight day in single digits. This is an unprecedented stretch, with no similar pattern seen since the index’s launch. The CoinMarketCap version of the sentiment tracker shows a similar reading of 8, also marking historic lows for a third consecutive day.
No major macro or tech sector headlines over the weekend provided a welcome break from external pressure. But sentiment metrics suggest that uncertainty and fragility remain deeply rooted among market participants.
Read also: Crypto Sentiment at Record Low: Fear and Greed Index Hits 10 for Second Day
Stability, But Not Conviction
Price action suggests that selling pressure may have exhausted itself in the short term, with Bitcoin showing resilience near the $70K mark. The sharp rebound from Thursday’s lows around $60K helped avoid a deeper breakdown, but this hasn’t been enough to shift market psychology.
Weekly losses remain significant across the board, with all major assets down double digits since last Sunday. At these levels, traders appear hesitant to commit either way. Volatility has eased, but so has conviction.
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Betting Markets Offer a Glimmer of Hope
Despite the grim sentiment readings, activity on decentralized prediction platforms suggests that many believe the worst might be over. On Polymarket, over two-thirds of participants are betting that Bitcoin will recover $75,000 before the end of February. Around 25% expect a new all-time high to arrive later this year, with most favoring the fourth quarter.
There’s also strong belief that Strategy – the high-profile Bitcoin holder currently underwater on its stack – will stick to its accumulation plan. Traders seem to agree that the company will not waver from its approach, even in the face of mounting skepticism.
Read also: How Low Would Bitcoin Have to Go for Strategy to Sell?
Looking Ahead
As the new trading week begins, sentiment remains fragile despite recent price stability. With record-low fear readings and cautious positioning across the market, the next wave of macro or tech-sector news could easily reset the tone – in either direction.
