Data show: bitcoin's optimism decreases as market slumps, indicating further price fluctuations

The current positive optimism surrounding Bitcoin is gradually disappearing. In the past 24 hours, Bitcoin has plummeted by more than 6%, falling below strong support at $ 9,300. The market sentiment has also been in the doldrums over the past week. According to TIE's 30-day average daily sentiment score (a quantitative indicator that measures investors' expectations for the future), Bitcoin's score hit a high since January 17. Since then it has fallen regularly. These data sets indicate that bullish sentiment on the short-term chart is losing its momentum. A similar trend can occur on Bitcoin's implied volatility chart. This shows that in the short term, the price of Bitcoin will start to fluctuate and fall, and the price is unlikely to stabilize in the short term.