Bitcoin

In a market gripped by extreme fear (Fear & Greed 25) and bearish sentiment, this behavioral insight underscores that non-fundamental factors (aesthetics, novelty, social proof) can drive demand. It parallels the early days of NFTs and meme coins, where collection for beauty or status preceded any practical use case. This suggests that even in a bearish macro environment, pockets of irrational enthusiasm can emerge.

A study reports that chimpanzees show attraction to crystals, suggesting early humans may have collected crystals for aesthetic reasons before practical use.