On Bitcoin’s recent on-chain woes | Santiment Weekly Pro Report
Despite a promising mid-week bounceback (courtesy of El Salvador), Bitcoin is just above breakeven for the week, and once again trading in a tight $35-$36k range.
But what about its network activity?
Last week’s report covered several ‘yellow flags’ emerging in Bitcoin’s on-chain data, including shrinking address activity and a bearish Mean Age divergence.
Below is a detailed update on the state of these and other key Bitcoin indicators to end the week, including crowd sentiment, funding rates as well as the latest activity of Bitcoin ‘whales’.
We cover it all in our weekly Pro report:
El Salvador hype fizzles out
Though its price action remained uninspiring, Bitcoin’s social activity has actually had quite an interesting week.
According to text data collected from 1000+ crypto-related channels, Bitcoin mentions rushed to a 14-day high on Tuesday, courtesy of El Salvador’s landmark
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