BTC sentiment turning increasingly bearish when price hasn't turned yet
I find sentiment on the bitcoin price very interesting. While many didn't expect this level of choppiness coupled with low volatility. Sentiment on here and twitter have been increasingly bearish even though price says other wise. We are hovering around the 52 week high, in fact, we had the highest 52 week close last week. Yet, traders are getting increasing bearish based on fundamentals and the rise of ethereum.
I am not sure if people remembered what it was like when bitcoin was trading barely above 200 USD/BTC, sentiment was similar. While I cannot predict where price will go, it is important to note that price direction and fundamentals isn't always correlated. It often is, but it doesn't have to be.