Top lessons from this week’s Bitcoin dips (Santiment Weekly Pro Report)

Profile picture
Jan 30, 2021

It’s been another week of intense market volatility, with multiple daily +/- 10% swings for Bitcoin, another price ATH for Ethereum, and even the annual Dogecoin pump.

In this week’s Santiment Pro report, we take a deep look at what may have caused today’s -11.4% Bitcoin drop, where the market could go next, and how the on-chain activity of top-cap stablecoins might clue us in on Bitcoin’s future price action.

Decoding today’s -11% Bitcoin drop

Earlier today, $BTC surged to as high as $38.4k, shortly after Elon Musk added the word ‘Bitcoin’ to his Twitter bio. Indeed, the meme-powered economy is alive and thriving in 2021.

Following Elon’s latest social media stint, however, the mood towards the benchmark coin ostensibly changed in a matter of hours.

According to text data from 1000+ crypto social media channels, the amount of BTC-related

There’s more of this Insight

Choose your subscription plan

Sanbase PRO

Unlock all PRO insights

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


$ 46310.02

17.67%in last 7d