Bitcoin 'death cross' rallies the bears | Santiment Weekly Pro Report
Despite a strong start to the week, Bitcoin has once again failed to conquer the $40k resistance, dropping by -11.8% over the past 4 days.
What’s more, today’s ‘death cross’ appearance seems to have convinced many of further downside for BTC, and the potential beginning of a bear market.
But what - if any - of these bearish narratives is smoke, and what is fire?
In our weekly Pro report, we dive deep into Bitcoin’s latest social and on-chain activity, and what it suggests about the current state of the crypto market.
‘Death cross’ rallies the bears
For better or worse, it seems that Bitcoin’s inability to breach $40k and its incessant ranging is no longer a surprise for the crypto community.
According to data from over 1000 crypto-related social channels, the amount of daily BTC chatter has continued to
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