Bitcoin sentiment has deteriorated sharply as market participants increasingly question the digital asset's foundational scarcity narrative.
A recent survey by Die Presse highlights growing skepticism among investors regarding whether the asset's value proposition holds under current market conditions.
The shift in sentiment follows a severe selling spree that saw Bitcoin collapse to a 21-month low of $58,093 earlier this week.
The shift in sentiment follows a severe selling spree that saw Bitcoin collapse to a 21-month low of $58,093 earlier this week.
The world’s largest cryptocurrency has since found tentative footing as buyers step in to defend critical technical levels, attempting to halt the downward momentum.
This repricing reflects a broader loss of confidence in the asset's long-term thesis.
With headwinds mounting, traders are closely watching whether the current support levels can hold or if further downside risk remains.