Bitcoin crash purges weak hands, wakes up retail | Santiment Weekly Pro Report

Bitcoin has incurred double-digit losses since Monday, dropping to as low as $40.5k just a few hours ago.

And while the crash has prompted some panic sell-offs and ‘weak hand’ shakeout, data suggests that the retail sector remains bullish on the top coin for the time being.

Could this mean more pain to come for the crypto market?

In Santiment’s weekly Pro report, we dive deep into Bitcoin’s latest social and on-chain data, and what it suggests about the current state of the crypto market:

‘Weak hand’ purge

During market-wide corrections, we at Santiment like to look for markers of significant investor distress. The market always tries to deliver maximum pain to as many investors, which - while uncomfortable - is often a necessary part to sustainable price recovery.

We also like to look for signs of weak hand

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:
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!