On latest BTC fundamentals and the push to $14k (Santiment Weekly Pro report)

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Oct 30, 2020

It’s been just over 7 days since Bitcoin breached $13k, a week marked with (expectedly) choppy price action and frequent, day-to-day shifts in market sentiment.

With the U.S. election right around the corner and the third wave of Covid-19 sweeping the globe, we wanted to take a deep look at the recent behavior of key Bitcoin stakeholders, and analyze the top coin’s on-chain and social activity since the $13k push.

BTC’s Social Activity Tapers Off

We have seen major jolts in Bitcoin’s social activity over the last 10 days, suggesting an initial surge in community interest and bullish sentiment as BTC began to rally, followed by a gradual and ongoing normalization since.

Based on text data from 1000+ channels, the amount of Bitcoin-related mentions on crypto social media ballooned to a 3-month high on October 21st, as BTC broke $12,000

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Assets from this insight

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$ 18836.58

6.13%in last 7d