Institution: The cryptocurrency market sentiment is sluggish, which may trigger an "unexpected rebound" this month

The cryptocurrency market analysis agency Santiment stated that as traders' fear continues to rise, the crypto market may experience an "unexpected rebound" in November. Historical data shows that when the market is generally in panic, funds often flow from the "weak hands" to long-term holders (i.e., "diamond hands"), thereby accumulating momentum for a rebound.

Santiment believes that this deterioration in sentiment may actually be "good news for patient investors," as long-term holders take the opportunity to accumulate when more panic selling occurs in the market. "When the public turns negative on assets, especially the highest market cap cryptocurrencies, it usually means the market is approaching a capitulation point."

"Once retail investors sell, key holders will take the opportunity to absorb the chips and push prices up. It's not a question of 'if it will happen,' but rather 'when it will happen.'"

Santiment's data shows that the overall sentiment towards crypto assets on social media has declined, but this is, in fact, a typical contrarian signal.