[Analyst Says BTC Investor Confidence Index Enters Low Red Zone]
On November 11, on-chain data analyst Murphy stated that the investor confidence index launched by Glassnode has entered the low red signal zone, indicating that market sentiment has once again dropped from its peak to a trough. It has been seven months since this signal last disappeared. Murphy pointed out that in the past two years, after the index entered the red zone, it typically took 1 to 2.5 months to weaken before turning strong. Since August 29, when the indicator shifted from the green optimistic zone to the yellow hesitation zone, it has remained in the yellow zone for an extended period, setting a record. After the first appearance of the red signal, it usually does not reverse back to the green confidence zone in the short term.
