Alphractal analysts also note that sentiments in the crypto market are moving into bear territory.

#Alphractal has published an updated Sentiment Gauge - a thermometer for sentiments in the crypto market. How to read it:

- Green areas - "bullish" and "very bullish": often accompany upward momentum.

- Yellow-orange - cooling/skepticism: often coincide with short-term local lows.

- Red - "very bearish": historically indicate stronger lows and a higher likelihood of a reversal.

The shift into the orange zone is already visible. If the indicator falls into the red cluster - then there will be cause for concern about a more significant correction. For now - we have "cooling" and good entry points.