Bears galore as BTC dips below $56k | Santiment Weekly Pro Report

Profile picture
Ibis
Nov 23, 2021

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

There’s more of this Insight

Choose your subscription plan

Sanbase PRO

Unlock all PRO insights
$51/mo

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

Bitcoin logo

BitcoinBTC

$ 50636.44

14.13%in last 7d
0