Bitcoin inertia deepens on and off-chain | Santiment Weekly Pro Report

With the top coin stuck in a tight trading range, fewer traders still seem to believe in a resolution to the upside.

The increasingly bearish outlook is all but confirmed by BTC’s social data. But could this plunge in market-wide confidence actually work in Bitcoin’s favor?

In our weekly Pro report, we take a deep dive into Bitcoin’s latest social and on-chain activity, and what it suggests about the current state of the crypto market:

Bearish and aloof

Another week of Bitcoin’s incessant ranging seems to have had an expected impact on the coin’s social data.

To start, the amount of daily Bitcoin mentions on crypto social media has continued to slump, with its 7-day moving average slinking to a half-year low at the time of writing:

Bitcoin, social volume, 7-day moving average, past 6 months (Source: Sanbase)


There’s more of this Insight

Choose your subscription plan

Sanbase PRO
Unlock all PRO insights

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:
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!