Gauging Bitcoin’s start-of-month health | Santiment Weekly Pro Report
Following the worst week for Bitcoin’s price action in over a year, Bitcoin has managed to end the month of April on a high note, gaining a formidable +17.5% since Monday.
Still, the top coin’s market cap dominance has continued to dwindle this week, dropping below 50% for the first time since July 2018 amid Ethereum’s latest all-time high push.
As we enter into May, we take a look at Bitcoin’s latest on-chain and social activity, and what they suggest about the benchmark coin’s potential moving forward:
ETH steals the spotlight
Despite Bitcoin’s +17.5% week and its latest surge above $57k, social data suggests that the top coin has yet to capture increased interest from the crypto community.
Based on text data from over 1000 crypto-related social channels (including Twitter, Telegram, Reddit and more), the amount of Bitcoin mentions has
There’s more of this Insight
Choose your subscription plan
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?
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!