Gauging Bitcoin’s potential as alts surge | Santiment Weekly Pro Report
With many high-cap alts breaking out, the top coin has struggled to maintain the same momentum in the past 7 days (-0.18%), prompting a loss to its market dominance and shaky retail interest.
And while Bitcoin’s price remains unchanged compared to a week prior, there have been some notabledevelopments in the coin’s social sentiment and address activity alike.
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:
The bulls are back
As expected, Bitcoin’s return to mid $40k’s has been accompanied by increased social chatter and fast-rising euphoria about the benchmark cryptocurrency.
Based on data from over 1000 crypto-related social channels (including Twitter, Telegram, Reddit and more), daily mentions of Bitcoin have grown by 31% between July 31st and August 14th,
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