How deep is Bitcoin’s latest correction? (Santiment Weekly Pro Report)

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Ibis
Feb 27, 2021

In a latest blow to perennial bulls, Bitcoin is now on track for its worst week since the Coronavirus crash (back in March 2020), losing -20.1% over the past 5 days.


As expected, BTC’s correction quickly rippled through the cryptocurrency market, painting (most of) the town red. ETH is down -26.9% since Monday, while BNB’s -27% week slid the coin down two spots, making it the 5th largest token by market cap at the time of writing.

Aided by an upcoming ‘Mary’ upgrade, Cardano (ADA) was virtually the only top-cap able to defy the market momentum, and is presently hovering around a new price all-time high of $1.26.


With the latest market-wide correction, a number of pundits now feel another leg down may be around the corner. With that in mind, here’s a deep look at Bitcoin’s latest fundamentals, and

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Assets from this insight

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BitcoinBTC

$ 55638.19

7.13%in last 7d
1