Cryptocurrency Market Reacts To Global Stock Decline

According to PANews, an analysis by Santiment suggests that the recent significant drop in global stock markets has also impacted the cryptocurrency market. Public opinion appears to attribute this downturn to U.S. President Donald Trump's trade war. Regardless of whether this is the primary cause or if other factors are at play, the reaction among cryptocurrency traders has been notably negative. Currently, Bitcoin has rebounded to the $96,000 range, but the surge may not be over. The question arises whether this increase is a strategy to prompt 'aggressive' retail traders to sell at local lows. Historically, markets often move in the opposite direction of popular expectations, indicating potential buying opportunities when most traders are skeptical about cryptocurrencies.