Bitcoin dump awakens the 'weak hands' | Santiment Weekly Pro report

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Ibis
Nov 17, 2021

Bitcoin has dipped ~9.7% in the last 24 hours, dropping below $60k for the first time in 3 weeks.


The market-wide crash has left a clear imprint on Bitcoin’s charts, including several signs of ‘weak hand’ selloffs and a curiously high sentiment by the retail sector.


Sign of things to come for the top coin or short-term price tremors?


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:


High on hopium


The crypto community’s reaction to the BTC crash has been nothing short of explosive, pushing Bitcoin’s social volume to its highest level since the May correction:


Social volume tracks the amount of BTC-related messages collected by our servers from over 1500 crypto-related channels, including Telegram, Twitter, Reddit and more. The elevated

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Assets from this insight

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BitcoinBTC

$ 51043.77

12.82%in last 7d
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