Analyst: The current <i>Bitcoin Sentiment Index</i> has entered the extreme pessimism zone

BlockBeats News, October 16th, CryptoQuant analyst Axel posted data on social media indicating that the current "Bitcoin Composite Sentiment Index" has entered an extremely bearish zone. Despite Bitcoin's price still hovering near a cyclical high, investors are generally taking a defensive stance, market participation is low, and risk appetite continues to shrink.

It is reported that the Bitcoin Unified Sentiment Index captures overall market psychology through three main components:

· Fear and Greed Index (reflecting macro sentiment and volatility)

· CoinGecko Upvote Ratio (reflecting retail sentiment)

· Rolling Normalization Layer (aligning and calibrating the previous two components over a one-year window)

This index scales from -100 to +100, with extreme negative values signaling a market collapse and panic, and extreme positive values indicating a feverish bubble.