On Bitcoin's social slump and on-chain gains | Santiment Weekly Report
As Bitcoin struggled to maintain its upward momentum over the past 7 days, signs of waning retail interest and bearish bias have popped up in the coin’s social data.
And while the limelight is still on high-performing alts, could low market expectations work in the top coin’s advantage?
In Santiment’s weekly Pro report, we dive deep into Bitcoin’s latest social and on-chain data, and what it suggests about the current state of the crypto market:
A bearish pivot?
As Bitcoin continued to tread water over the past week, the crypto community had gradually turned their attention to a wide selection of upward-facing alts instead.
The numbers back this up - according to text data collected from 1000+ crypto social channels (including Telegram, Reddit, Twitter and more), the amount of Bitcoin-related mentions shrank by -31.8% last week, a sign that the
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:
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!