Opinion: The crypto market has not yet shown enough panic to confirm a bottom.

According to Odaily Odaily, Santiment reports that social media sentiment indicates the crypto market hasn't yet shown enough panic to confirm a bottom. Santiment founder Maksim Balashevich points out that there's currently optimism online about a short-term reversal of the downtrend, and this retail-driven optimism typically doesn't appear at a true market bottom. According to Balashevich's observations, Bitcoin's price could potentially fall further to around $75,000, a drop of about 14.77% from its current price of around $88,000. Furthermore, the Bank of Japan raised interest rates to 0.75% on Friday, a move that previously triggered a roughly 20% pullback in Bitcoin. Jurrien Timmer, Global Macro Research Director at Fidelity, believes Bitcoin could fall back to $65,000 by 2026. Meanwhile, the Crypto Fear & Greed Index has been in the extreme fear zone since December 14th, with a score of 20 on Sunday. (Cointelegraph)