Bitcoin’s +11.5% week helps boost network activity | Santiment Weekly Report

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Ibis
Sep 7, 2021

The benchmark coin has logged in another strong week, soaring by +11.5% to climb above $52k for the first time in almost 4 months.


And while Bitcoin’s price continues to pump, a surprisingly dopey crowd reaction and fast-rising network activity may hold important clues to the sustainability of the rally.


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:


Away from the spotlight


As Bitcoin continues to get closer to price discovery, there’s been one element that has remained constant: the amount of retail interest (or lack thereof) in the top coin’s recovery.


According to data that Santiment collects from over 1000 crypto-related social media channels (Telegram, Reddit, Twitter and more), Bitcoin’s price rally has yet to actually translate into growing curiosity

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Assets from this insight

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$ 47387.51

3.04%in last 7d
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