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

According to ME News, on December 21st (UTC+8), Santiment stated that social media sentiment indicates the crypto market has not yet shown enough panic to confirm a bottom. Santiment founder Maksim Balashevich pointed out that there is 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, the price of Bitcoin could potentially fall further to around $75,000, a drop of approximately 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. (Source: ME)