Is being too bullish actually good for the crypto market?

Bitcoin’s recovery since the summer lows has been accompanied by an unusually sharp shift in analyst sentiment, and CryptoQuant believes the pattern closely resembles the early stages of the previous major bull cycle.

In its latest report shared with CryptoPotato, the company found that sentiment across BTC, ETH, BNB, XRP, and SOL has shifted from bearish to bullish since early July. More importantly, CQ said the move has been “deeper, faster, and broader” than the turn witnessed between late 2022 and early 2023.

Analysts Turn Bullish

CryptoQuant’s 30-day Analyst Consensus Index bottomed at -18.3 on July 2,…