Bitcoin retraced to a low of $112,600 as retail panic selling resulted in the most bearish social sentiment since June, but analysts see a buying opportunity ahead.
Retail crypto traders seemingly flipped bearish after Bitcoin failed to pick itself up from a recent dip below $113,000, clocking a 17-day low.
“Retail traders have done a complete 180 after Bitcoin failed to rally and dipped below $113,000,” said analysts at blockchain analytics firm Santiment on Wednesday.
Santiment also reported that the past 24 hours have marked “the most bearish sentiment seen on social media” since June 22, when fears of war in the Middle East caused a cascade of panic sells.
