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Forget the bottom when everyone’s screaming for it. Santiment data reveals crypto’s true lows materialize when the doomsayers are out in force, not when they’re predicting disaster.
“Beware the siren song of universal agreement on a price bottom,” warned Santiment. “The real market bottoms? They’re usually born in the depths of despair, when everyone else is bracing for another plunge.”
Bitcoin’s fleeting dip below $95,000 amidst a tech stock rout sent social media into a frenzy, with “worst is over” becoming the mantra. Santiment flags this surge in optimism as a potential red flag, noting that historically, such bullish sentiment often precedes further price drops.
The crypto graveyard is littered with premature victory cries. How many times have we heard, “This is the bottom!” moments before Bitcoin plunges through yet another supposedly unbreakable floor? Remember the collective gasp when Bitcoin kissed $100,000 goodbye? Yeah, someone declared the dip done then too.
Bitcoin sentiment slumps, positive comments fall to one-month low
Even with the Bitcoin naysayers chanting “bottom’s in!”, crypto titans like BitMEX’s Arthur Hayes and Fundstrat’s Tom Lee are doubling down. They’re not just predicting a rally; they’re forecasting a moonshot, standing firm on their calls for Bitcoin to blast past $200,000 before the year closes.
Santiment said that social media sentiment has turned “overwhelmingly negative.” Source: Santiment
Bitcoin Sentiment Sours: Are the Bulls Losing Their Grip? Santiment data reveals a chilling dip: Bitcoin’s positivity ratio just hit a one-month low, suggesting growing market unease.
Bitcoin’s price may be down, but its social buzz is deafening. Santiment reports that fear is fueling the conversation, with Bitcoin dominating over 40% of crypto chatter. Is this a buying opportunity or a sign of more pain to come?
Source: Moustache
Bitcoin’s recent plunge sparked a flurry of speculation, with many traders pointing fingers at MicroStrategy’s chairman, Michael Saylor, and a rumored Bitcoin sell-off. Social media exploded with mentions of “Saylor” as the cryptocurrency’s price plummeted, fueling the flames of suspicion. The sentiment platform noted a dramatic correlation between the chatter surrounding Saylor and Bitcoin’s downward spiral.
Spot Bitcoin ETF outflows may be bullish
Amidst a Bitcoin price plunge, MicroStrategy’s Michael Saylor swatted down rumors of a sell-off in a fiery CNBC interview Friday.
Related: Bitcoin ETFs bleed $866M in second-worst day on record, but some analysts still bullish
Bitcoin’s recent ETF exodus? Santiment suggests it might just be the rocket fuel for its next price surge.
Santiment observes a contrarian signal in ETF flows: Swells of investor cash rushinginoften precede market peaks, while fleeing capital tends to foreshadow rebounds. Is retail panic the unseen hand guiding these topsy-turvy trends?
Over the past three trading days, US-based spot Bitcoin ETFs saw $1.17 billion in outflows, according to Farside.
Bitcoin ETFs witnessed a bloodbath on Thursday, hemorrhaging $866 million – the second-largest single-day outflow ever recorded. Only February 25th’s $1.14 billion exodus was worse, painting a grim picture for the cryptocurrency’s immediate investment appeal.
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