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