What spurred the latest market-wide dip? (Santiment Weekly Pro report)

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Ibis
Nov 28, 2020

Pictured: Ethereum’s exchange inflow, last 6 months (Source: Sanbase)

After a month of nearly uninterrupted price growth and what’s virtually been a coin-agnostic rally, the crypto market once again finds itself in the middle of an industry-wide correction.

The price of Bitcoin has declined by -11.8% over the last 48 hours (dropping from a 3-year high of $19.3k), prompting a sea of red candles throughout the altcoin market and putting dreams of a new price ATH on the back burner.


The question, as always, is - why? Why did we dump here, and just as importantly, were there enough indicators that we’re approaching another price top ahead of time?


Our (bearish) track record


As it so happens, we at Santiment published not one but two bearish insights preceding the latest market retraction.


On November 24th (just a few hours before

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Our previous TOP calls:
WAVES crowd sentiment patternMATIC charts a new ATH: is the top in?ICX insanity. How far could it go?
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Assets from this insight

Ethereum logo

EthereumETH

$ 1419.71

30.44%in last 7d
Bitcoin logo

BitcoinBTC

$ 37244.36

7.43%in last 7d
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