Bitcoin’s Post-ATH Sentiment Shift Signals Imminent Downtrend

After reaching its all-time high above $100,000 in 2024, Bitcoin has seen a rapid reversal in sentiment that is now driving its price downward. Investors, who once exhibited strong bullish enthusiasm on the Bitcoin Sentiment Vote chart, have shifted to a risk-off stance, with increasing 'Vote Down' signals and long-term holders offloading their positions. By March 2025, BTC had settled below $85,000, reflecting sentiment levels reminiscent of September 2024—an era marked by hesitation before previous upward surges. This change comes on the heels of significant profit-taking and a pronounced reduction in long-term holdings supply, suggesting that traders continue to exhibit a lack of confidence in an imminent recovery. Additionally, a brief reference to BONK hints at an upcoming price prediction that may stir speculative buying in the memecoin market. Overall, the news points to mounting investor caution and uncertainty, setting a bearish tone for the near-term outlook of Bitcoin and possibly influencing broader market sentiment.