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