Keep track of Bitcoin's on-chain divergences | Santiment Weekly Pro Report

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Ibis
Jul 25, 2021

Bitcoin’s last 7 days have been a pleasant surprise, logging an 8.7% price growth and a swift recovery from the coin’s sub-$30k drop.


And yet, Bitcoin’s on-chain data is yet to show signs of increased activity or rising demand in the benchmark cryptocurrency.


Which begs the question: can BTC have a sustainable price recovery if its network activity continues to decline?


In Santiment’s weekly Pro report, we dive deep into Bitcoin’s latest social and network activity, and what it suggests about the current state of the crypto market:


A bullish relief


Much like its price action, Bitcoin’s social metrics have been all over the place in the past 7 days.


As the coin experienced another sub-$30k drop on Tuesday, the amount of BTC mentions on crypto social media began to rally, soaring by +72% in 24 hours and reaching a

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Assets from this insight

Bitcoin logo

BitcoinBTC

$ 63353.93

13.69%in last 7d
0