Is the crypto market still in ATH euphoria? | Santiment Weekly Pro Report

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Ibis
Apr 18, 2021

Following its latest price ATH on April 14th, Bitcoin has failed to muster a sustained rally above $65k, losing -7.5% over the past 72 hours.


As the top coin now hovers around the $60k mark, it’s worth taking a look at its latest on-chain and social data, and what they may suggest about Bitcoin’s short-term outlook:


‘ATH euphoria’ starting to wane


As we noted in our mid-week report, Bitcoin’s latest all-time high breach had prompted a number of concerning signals in its immediate aftermath.


In particular, we have reported on a growing funding rate across centralized exchanges on Wednesday (not just for BTC, but other top-caps as well), suggesting a fast-rising bullish bias among derivative traders.


On top of this, Bitcoin-related chatter on social media had skyrocketed in tandem with the $61k breach, while the average sentiment towards BTC

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Assets from this insight

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BitcoinBTC

$ 40890.55

28.34%in last 7d
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