TechFlow reported on February 8 that Matt Hougan, Chief Investment Officer of Bitwise, said there is now a significant divergence in sentiment between professional and retail investors in the crypto market.
Retail investor sentiment is at its lowest level in years, while professional investors are extremely bullish. The Fear & Greed Index has dropped 25 points from 69 (greed) last month to 44 (fear).
Bloomberg ETF analyst James Seyffart noted this is because retail investors hold large amounts of severely underperforming altcoins and meme coins. Data shows that the top three meme coins by market cap have all declined over 20% in the past seven days, with Pepe down 35.31%, Shiba Inu down 20.82%, and Dogecoin down 24.69%.
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