Greed

Simpson

Thomas

Bitcoin

when

Bitcoin’s price could be approaching its bottom this cycle as it lingers below $83,000 and market sentiment remains fearful, according to the founder of a crypto fund.
“Some broader macro data still looks poor, but it also wouldn’t surprise me if we put in a near-term floor locally given the significant level of fear and liquidations,” Bitcoin analyst and digital asset fund Capriole Investment founder Charles Edwards told Cointelegraph.
<h2 id="bitcoin-sentiment-improves-slightly-despite-stagnant-price">Bitcoin sentiment improves slightly despite stagnant price</h2>
Despite the Crypto Fear &amp; Greed <a href="https://alternative.me/crypto/fear-and-greed-index/#google_vignette" rel="noopener noreferrer nofollow" target="null">Index</a> — which measures overall crypto market sentiment — tapping a more than <a href="https://cointelegraph.com/news/bitcoin-crypto-sentiment-tracker-levels-decline-celsius-terra-3ac" rel="noopener noreferrer nofollow" target="null">two-year low score of 10 on Feb. 26</a>, signaling “Extreme Fear,” Edwards said he doesn’t pay much attention to it.
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 <img alt="Cryptocurrencies, Markets" src="https://s3.cointelegraph.com/uploads/2025-02/01954a55-fe5c-7e03-90d1-ab5b256d510d" title="">
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 The Crypto Fear &amp; Greed Index has dropped significantly since its Jan. 31 “Extreme Greed” score of 76. Source: <a href="https://alternative.me/crypto/fear-and-greed-index/" rel="noopener noreferrer nofollow" target="_blank">Alternative.me</a>
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“I am not a big believer in the Crypto F&amp;G metric and strongly prefer the CNN Fear and Greed metrics, which cover the broader market. It, too, is in extreme fear today. As is the AAII sentiment survey,” he said, <a href="https://www.aaii.com/sentimentsurvey" rel="noopener noreferrer nofollow" target="_blank">referring</a> to a poll by the American Association of Individual Investors.
On Feb. 27, Alternative.me’s Crypto Fear &amp; Greed Index jumped 6 points to an “Extreme Fear” score of 16, even as Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null">BTC</a>) showed no signs of a near-term recovery. Bitcoin is down 0.57% over the past 24 hours, trading at $82,260 at the time of publication, <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow" target="_blank">according</a> to CoinMarketCap data.
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 <img alt="Cryptocurrencies, Markets" src="https://s3.cointelegraph.com/uploads/2025-02/01954a53-e25f-76bc-85a5-ceba7de86c61" title="">
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 Bitcoin is down 16.42% over the past seven days. Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow" target="_blank">CoinMarketCap</a>
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Many observers point to macroeconomic uncertainty and concerns over US President <a href="https://cointelegraph.com/news/trump-tariffs-lead-cost-savings-americans-through-tax-cut" rel="noopener noreferrer nofollow" target="null">Donald Trump’s proposed tariffs</a> as key reasons for Bitcoin’s and the broader crypto market’s decline. Since Trump’s inauguration on Jan. 20, <a href="https://cointelegraph.com/news/bitcoin-all-time-high-109000-trump-inauguration-day" rel="noopener noreferrer nofollow" target="null">when Bitcoin hit an all-time high of $109,000</a>, the asset has dropped nearly 24.5%.
Edwards sees the flashing red sentiment indicators as a sign of a market rebound. “We have quite a lot of bearish ‘sentiment’ confluence. Which historically has been a good marker for a potential dip/reversal opportunity,” he said.
Crypto investment research firm Sistine Research said that Bitcoin’s recent dip to $82,242 could mark a near-term bottom.
“Imo ~30% odds that was pico low on BTC,” Sistine Research <a href="https://x.com/sistineresearch/status/1895248392248533033" rel="noopener noreferrer nofollow" target="_blank">said</a> in a Feb. 27 X post. However, it warned that if the stock market keeps dropping in the coming days, Bitcoin could find a bottom at $73,000 instead — a level it hasn’t seen since Nov. 7.
Related: <a href="https://cointelegraph.com/news/bitcoin-whale-spoofy-trades-bitfinex-344-million" rel="noopener noreferrer nofollow" target="null">Bitcoin whale ‘Spoofy’ accumulates $344M BTC as price tumbles below $90K</a>&nbsp;
The Standard and Poor’s 500 (S&amp;P 500) is down 4.13% over the past five trading days, as per Google Finance <a href="https://www.google.com/finance/quote/.INX:INDEXSP?sa=X&amp;ved=2ahUKEwj2wo6Km-WLAxVazTgGHbFnAA0Q3ecFegQIOhAX" rel="noopener noreferrer nofollow" target="null">data</a>.
CryptoQuant founder and CEO Ki Young Ju recently <a href="https://x.com/ki_young_ju/status/1895096223704719674" rel="noopener noreferrer nofollow" target="null">said</a> the chances of Bitcoin dropping below $77,000 “are low.”
<h2 id="bitcoin-still-has-room-to-run">Bitcoin still has “room to run”</h2>
Meanwhile, the global economist of crypto exchange Kraken, Thomas Perfumo, said in a Feb. 26 statement that Bitcoin’s structural indicators “suggest that the broader crypto market still has room to run.”
“Right now, dominance remains strong in the low 60s — indicating that market momentum hasn’t yet reached a speculative peak. At the same time, stablecoin market cap has grown 11% year-to-date, signaling continued onchain capital deployment,” Perfumo said.
Collective Shift founder Ben Simpson recently told Cointelegraph that the current market conditions could present a buying opportunity for crypto investors.
Magazine:<a href="https://cointelegraph.com/magazine/elon-musk-proposal-to-run-government-on-usa-chain-has-some-issues/" rel="noopener noreferrer nofollow" target="null"> Elon Musk’s plan to run government on blockchain faces uphill battle</a>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin analyst eyes ‘near term floor’ as crypto fear hits redline

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