According to Joe Vezzani, CEO of Lunarcrush, despite Bitcoin’s bullish structure, Crypto investors are still rattling with uncertainty.
Speaking to Rob Nelson of TheStreet Roundtable, Vezzani pointed out that despite Bitcoin’s resilience, it reached $54,000, leaving market sentiment at the lowest level.
“There’s a very low sentiment in the market right now with Bitcoin, and then it’s also the rest of the Altcoin market,” Vezzani says. He pointed out that many investors still respond emotionally, buying when prices go up and selling in panic when prices go down. “I always tell people you just have a rule of thumb to buy on the red day. You’re always trying to do better.”
Vezzani explained that Bitcoin is still treated like a risky asset and is moving in sync with macroeconomic factors such as interest rates and trade tariffs. “Bitcoin has been trading like a bit of a beta as a big tech stock for a long time,” he said. “We wish it was this big asymmetric hedge of macros…but it’s not there yet.”
But he sees a big change. “We have a regulated tailbone in the end. Bitcoin has not been traded in a macro-positive and regulatory positive environment at the moment, and we will see it here next year,” Vezzani said, adding that institutional investors and sovereign funds are already in the space. “If they’re not moving right now, retailers will be left behind.”
Bitlab Academy CEO Kelly Kellam noted the difference between Bitcoin’s strength and the struggles of the Altcoin Market. “Of the top 100 coins over the last 90 days, 89 have fallen,” he said. “Some of them have fallen by 70%, even at 40%, 50%, and even 70%, but Bitcoin is in a completely bullish structure.”
Despite harsh sentiments, Vezzani warned that the crypto market can move faster. “You could tear the absolute price for three weeks and you missed it completely,” he warned. His advice? “If capital remains, it would be a good time to start DCA (averaging dollar costs).”