On Bitcoin’s recent on-chain strength(s) | Santiment Weekly Pro Report

Profile picture
Ibis
Jul 5, 2021

While Bitcoin has spent another week trading sideways (+0.67% for the past 7 days), its on-chain activity has been flashing some VERY interesting signals.


These include:

  • Bitcoin’s active addresses more than doubling in a week
  • Supply of BTC on exchanges hitting a 6-month low
  • Curious spike in ‘whale’ balances at the midweek bottom

Signs of network recovery, or just short-lived tremors?


In our weekly Pro report, we take a deep dive into Bitcoin’s latest social and on-chain activity, what it suggests about the current state of the crypto market:


Bears linger


Despite Bitcoin’s +9.1% uptick in the past 48 hours, the interest in - and general mood towards - the top coin has yet to see any major changes.


According to text data collected from over 1000 crypto social channels (including Telegram, Reddit, Twitter and more), the amount of daily

There’s more of this Insight

Choose your subscription plan

Sanbase PRO

Unlock all PRO insights
$51/mo

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?
insight card
signal form

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!

Assets from this insight

Bitcoin logo

BitcoinBTC

$ 38468.86

1.31%in last 7d
2