Major caps are taking a beating in the recent market conditions, with a particular look at Bitcoin (BTC), Binance Coin (BNB), Chainlink (LINK), and Dogecoin (DOGE). These majors have experienced a high level of fear, uncertainty, and doubt (FUD) that could position them for breakouts, Santiment claims . The crypto market intelligence platform indicates that sentiment surrounding these large caps has experienced the most fear, uncertainty, and doubt within the market. Santiment explains the “Crowd has become extremely negative as top cap prices have failed to rebound.” The 2022 bear market has offered little respite to investors and holders, with Bitcoin dropping to new yearly lows as buyers begin to lose hope of a market recovery anytime soon.
Bear market wreaking havoc on prices
The ongoing bear market continues to play a huge part in price decreases across the industry. However, it seems that major caps are suffering the most as holders and community members begin to question if there is more blood in store for the market.
According to the Fear & Greed Index , the current market sentiment remains relatively unchanged compared to last month. The current sentiment sits at 24 out of 100, putting the current sentiment as “Extreme Fear.” The index has only hit a high of 60 in 2022. Compared to 2021, when it hit 95 in Feb, and 84 in Oct.
Source: Alternative.me
Binance Coin (BNB)
BNB is currently down 59% from its all-time high, but the asset is also one of the few major cap tokens with positive price performance in the last 24 hours. It is up 2.4% over this period.
#BNB All Time High
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