Bears galore as BTC dips below $56k | Santiment Weekly Pro Report
With BTC failing to recapture $60k over the weekend and heading back south, it seems that the mainstream confidence in the benchmark coin is (finally) starting to wobble.
Based on data from more than 1000 crypto social channels, the average sentiment towards BTC is now at a 50-day low, pointing to increased anxiety among retail traders and fears that the worst is yet to come.
But could this lack of wholesale euphoria be a good sign for Bitcoin’s short-term PA?
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:
FUD takes over
As you may remember, last week we noted that the retail sentiment towards Bitcoin was still predominantly bullish, with a medley of ‘buy the dip’ calls and high hopes that
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