“There is close to no retail interest in crypto right now. Do we need to start pumping the dino coins again to get retail to come back? After the Trump-Melania memecoin drama, it seems that retail lost a lot of faith in the space.
Worldwide Google search volume for “crypto.” Source: Google Trends
None of my normie friends or family ask me anything about crypto anymore,” he added, highlighting the sentiment among retail traders following the price implosion of memecoins from the Trump family, which have declined by over 90% in value from their highs.
The low search volumes reflect low retail investor sentiment about the state of the crypto market, which is still reeling from the effects of a flash crash in October, characterized as one of the worst single-day crashes in crypto history.
Related: Crypto sentiment holds ‘extreme fear’ for 14th straight day
Crypto markets still in “fear” mode months later
October’s market crash caused nearly $20 billion in leveraged liquidations and some altcoins to decline by as much as 99% in a single day.
The crash also took BTC from an all-time high above $125,000 to a low of about $80,000 in November, and the price has continued to consolidate between $80,000-$90,000 since that time.
The Crypto Fear and Greed Index indicates that investor sentiment is still fearful and cautious over two months after October’s historic market crash. Source: CoinMarketCap
The Crypto Fear and Greed Index, an indicator tracking crypto market sentiment, hit a yearly low of 10 in November, indicating “extreme fear” among investors, according to CoinMarketCap.
Market sentiment has oscillated between “fear” and “extreme fear” since October’s crash and is at 28 at the time of this writing.
The Fear and Greed indicator still signals fear among investors, but also a slight improvement over the prevailing market sentiment over the last several months.
Magazine: Bitcoin’s critical level is $82.5K, Ethereum ‘not done yet’: Trade Secrets
cointelegraph.com
