Assessing the ‘panic level’ of Bitcoin holders | Santiment Weekly Pro Report

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Ibis
May 30, 2021

After a hopeful start to the week, Bitcoin has struggled to maintain the same momentum, ultimately dropping by -8% in the past 7 days.


And while several metrics now point to (potentially) undervalued conditions, Bitcoin’s whale behavior and recent network activity may pose obstacles for a sustained price recovery.


We cover this and much more in our weekly Santiment pro report:


Bearish consensus?


We start our analysis, as always, with insights collected from crypto social media.

As a quick reminder, last week’s crash prompted the highest amount of Bitcoin-related social mentions in history (at least according to our data) - dwarfing even the 2017 peak:

Bitcoin-related mentions on crypto social media, past 4 years (Source: Sanbase)

Bitcoin’s social volume is based on daily text data from more than 1000 crypto-specific channels (including Telegram, Reddit, Twitter and more), available only on

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

Bitcoin logo

BitcoinBTC

$ 35819.15

0.86%in last 7d
2