CryptoQuant: Bitcoin Analyst Sentiment Turns Clearly Bearish as Consensus Index Falls to −1.8σ

Bitcoin analyst sentiment has entered a clearly bearish phase, CryptoQuant said on November 11. Its analyst consensus index fell from −1.0σ to −1.8σ over the past seven days, below the −1.5σ level the firm marks as significantly bearish. Bitcoin fell to around $73,000 over the same period.Of the analysts with a clear stance over the past week, 88 were bullish and 59 bearish, according to CryptoQuant. Bulls still make up about 60%, so the balance is slightly bullish, but that’s well below recent norms. CryptoQuant said ETF outflows, inflation concerns and a weaker Nasdaq weighed on sentiment, although Nasdaq futures rebounded on Wednesday.The index tracks bullish and bearish views on bitcoin from analysts on platforms including X, Seeking Alpha and Substack, counting one vote per person. It compares the current reading with the past 90 days, so a negative value means sentiment is more bearish than usual.