CryptoQuant: Analyst sentiment enters a distinctly bearish range, market consensus index drops significantly

BlockBeats news, November 11: CryptoQuant stated that Bitcoin analyst sentiment is increasingly bearish, with the analyst consensus index dropping from -1.0σ to -1.8σ within 7 days, while Bitcoin's price fell back to around $73,000 during the same period. Over the past 7 days, among 149 analysts with clear positions, 88 were bullish and 59 bearish, with bulls accounting for about 62%, still slightly bullish in absolute terms but significantly down from recent norms. ETF outflows, inflation concerns, and Nasdaq weakness are weighing on market sentiment.

The index tracks bullish and bearish Bitcoin statements from analysts covered by CryptoQuant on platforms such as X, Seeking Alpha, and Substack, aggregated on a one-person-one-vote basis and then compared with the norm over the past 90 days. A negative value means current consensus is more bearish than the recent norm, and a reading at or below -1.5σ is marked as a clearly bearish range.