Add as a preferred source on GoogleBitcoin Analyst Consensus Gauge Falls to Minus 1.8 Standard Deviations
The reading crossed the gauge’s distinctly bearish threshold, even as the overall analyst tally remained slightly bullish.
Bitcoin (BTC) analyst sentiment moved further below its recent baseline as the consensus gauge reached minus 1.8 standard deviations over seven days, entering its distinctly bearish range.
The reading fell from minus 1.0 to minus 1.8 over the period, passing the gauge’s minus 1.5 cutoff. A negative reading means analyst views are more bearish than the preceding 90-day norm, even though the overall tally remained slightly bullish.
The measure summarizes analysts’ public views on Bitcoin, giving each analyst one vote. Its standard-deviation scale tracks how far the current consensus has shifted from the 90-day baseline. The decline reflects a deterioration against recent conditions, rather than a bearish overall tally.
Bitcoin traded near $73,000 during the period. ETF outflows, inflation concerns and Nasdaq weakness also weighed on market sentiment.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.