Retail euphoria grows amid BTC’s recovery | Santiment Weekly Report

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Ibis
Nov 4, 2021

Bitcoin has entered November on an upward slope, logging a solid +6.8% growth over the past 7 days.


And while the top coin continues to record higher lows, its social metrics are starting to show signs of bullish euphoria similar to that of its October ATH.


Could this renewed uptick in retail confidence hurt Bitcoin’s chances of another all-time high breach in the short term?


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:

Return of the BTC bulls?


While the amount of social chatter towards Bitcoin tapered off after the ATH breach, yesterday’s short-lived recovery above $64k seems to have added new fuel to the hype train.


Based on data from more than 1000 crypto channels, Bitcoin-related mentions soared on November

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Assets from this insight

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BitcoinBTC

$ 50471.34

13.95%in last 7d
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