Examining Bitcoin at $50k | Santiment Weekly Pro Report

Profile picture
Ibis
Aug 24, 2021


Bitcoin broke $50k for the first time since May, as market-wide recovery continues and several top alts chart new all-time highs.


And while Bitcoin’s social metrics still show promise, there have been several ‘yellow flags’ forming in the coin’s on-chain data.


Time to cool off, or just tremors in 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:


Alts steal the spotlight - good for BTC?


What has been particularly interesting about Bitcoin’s rally to $50k is the general reaction - or lack thereof - from the retail crypto crowd.


According to text data collected from 1000+ crypto-related social media channels (including Telegram, Reddit, Twitter and more), Bitcoin’s daily mentions have stayed relatively mild all throughout its August pump, rising

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

$ 47562.43

3.39%in last 7d
2