TechFlow news, February 3: Santiment posted that due to Trump's trade war, Bitcoin initially dropped to a low of $91,200 before rebounding above $96,000. Media outlets appear to attribute the sharp declines across various sectors to "Trump's trade war."
Whether this is the primary cause or whether other factors are at play, traders in the cryptocurrency community have reacted unusually negatively. Bearish sentiment on social media (compared to bullish sentiment) has reached its highest level in over a year.
Historical data indicates that markets almost always move in the opposite direction of popular expectations. Analysts believe this recent sell-off may be aimed at triggering retail traders' stop-losses and creating a local bottom.
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