Analyst: BTC investor confidence index has entered a low range.

According to Mars Finance, on November 11, on-chain data analyst Murphy posted on social media stating that the “Investor Confidence Index” launched by Glassnode has entered the “red signal” representing a low position. This indicates that market sentiment has once again fallen to the bottom after experiencing a peak period. It has been 7 months since the last disappearance of this signal. Murphy mentioned that based on data from the past 2 years of this cycle, there have been 3 instances where entering the red zone led to a trend starting to weaken after 1-2.5 months. Since August 29, when this indicator changed from the green “optimistic zone” to the yellow “hesitation zone”, the index has remained in the yellow zone for an extended period, setting related records. After the first red signal appears, it typically does not reverse back to the green confidence zone within just a few days.