'Pain markers' emerge on chain - good for the market?

Profile picture
May 18, 2021

An old Wall Street credo is that the market always tries to deliver the maximum amount of pain to as many investors as possible.

True to that tenet, the crypto market has been administering some primo nut punches to the majority of its participants for the last 5 days.

Since Elon’s anti-BTC tirade last Thursday, the top coin has lost -25.6%, most recently breaking below $43k for the first time since February 8th.

Save for a few outliers (most notably Matic), the last 7 days have been a sea of red for the top 20 digital assets, as the crypto market continues to bleed billions across the board.

And yet despite all of this, we are only now starting to see a few important ‘pain markers’ pop up in blockchain data, suggesting that a directional change may be possible.


There’s more of this Insight

Choose your subscription plan

Sanbase PRO

Unlock all PRO insights

Years of market experience, compressed in each report

Since 2017, Santiment has been an industry leader in on-chain data, social intelligence and behavior-based analysis of the crypto market.

Our tools have a proven track record of timing price tops for cryptocurrencies, helping traders find profitable exit points and mitigate HODLing risk.

Our previous TOP calls:
WAVES crowd sentiment patternMATIC charts a new ATH: is the top in?ICX insanity. How far could it go?
insight card
signal form

What you get with Sanbase Pro:

  • Members-only daily market insights and analysis
  • 30+ on-chain, social & project indicators for 900 cryptocurrencies
  • Custom alerts for the coins' price, on-chain & social trends
  • Santiment Spreadsheet plugin with 10+ pre-made market templates
  • Personalized asset watchlists and weekly performance reports

Gain unfair advantage with Sanbase Pro

Subscribe to Sanbase Pro for access to exclusive insights, market-beating metrics, strategies and templates!

Assets from this insight

Ethereum logo


$ 2399.64

9.26%in last 7d