Bitcoin holds $67K support as data exposes price to sentiment divergence

Wintermute analysts said Bitcoin’s price stability against the extreme bearish sentiment present in the market is a positive. Will BTC ever flip $70,000 back to support?

Bitcoin (BTC) continues to show strong support at $67,000, even as a growing split between BTC’s price stability and bearish sentiment among investors leaves the cryptocurrency in a state of equilibrium.

BTC’s resilience in avoiding dips below $60,000 has been driven by strong institutional investor demand and long-term buying, despite volatility stemming from the US-Israel-Iran war.

Market maker Wintermute noted that Bitcoin’s price and sentiment were diverging. The Fear and Greed Index sat at 11 on Tuesday, staying in “extreme fear” for over a month.

Read more