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

Bitcoin analyst Charles Edwards says a Bitcoin-cycle bottom could be close as negative sentiment continues to build.

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.

Despite the Crypto Fear & Greed Index — which measures overall crypto market sentiment — tapping a more than two-year low score of 10 on Feb. 26, signaling “Extreme Fear,” Edwards said he doesn’t pay much attention to it.

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