The number of social media posts mentioning crypto dip-buying has risen to its highest level since July last year, amid the crypto market crash that sent Bitcoin below $80,000.
Santiment’s Social Sentiment Tracker discovered that the traders’ comments on different social media channels such as X, Reddit, and Telegram from February 25 to 26 were overwhelmingly positive. “showing a very high level of confidence” This dip is the “the one to buy,'” Platform said In a post from X on February 28.
The highest level crypto dip-buying interest in seven It added months.
Bitcoin’s price dropped to below $90,000. That was the next day, after US President Donald Trump had announced that he would be implementing his proposed tariffs. 25% tariffs on Canada and Mexico We are moving forward.
Since then, the price of this product has decreased. shed even more of the gains made Post-US elections, the price of gold dropped to below $80,000 by February 28th, as Trump threatened an additional 10% tariff against China.
Santiment’s tracker analyzes social media sites that are crypto-specific to find the 10 most popular words in the last fourteen days. Source: Santiment
The analytics platform warns that the interest shown in purchasing the dip may not be a sign to rush into the market, as it could move the other way.
“Ideally, we are waiting for this crowd enthusiasm to die down as a signal that enough pain has hit retail traders to justify a bounce,” Santiment said.
“Markets move in the opposite direction of the crowd’s expectations, so look for declining optimism and shrinking levels of buy-the-dip calls as a bullish signal.”
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Santiment’s Tracker Sifts Through crypto-specific X, Telegram and other social media platforms such as X have been able to identify the 10 most popular words on social media in the last two weeks. according To its method.
BitcoinBTC( ) is trading for around $80.400 and has fallen 5% within the last 24 hour. according CoinMarketCap Data. EtherETH“” is down The price of the stock has declined by over 30% during the last 30 days, and it is currently trading at $2,139.
Santiment posted an update on the topic. said Prices are dropping even further, which isn’t surprising. “retail crowd was all over the prospects of a dip buy.”
Source: Santiment
“Look for the crowd becoming disinterested or despondent as a sign that the real dip buy opportunity has arrived,” The platform stated.
Google Trends data shows Search interest is a story that plays out in a similar way. “buy the dip” On Feb. 26, when looking at a week-long period, the score spiked up to 100. Search interest dropped from 100 to 49 since then.
Google Trends shows that the phrase buying the dip has been a popular search term. Source: Google Trends
Searching for the word “crypto” The index reached its highest point of 100 over the past seven days, on February 25. currently The score is 87.
The term is deemed popular if it has a value greater than 100. according Google Trends FAQ. A score of 0 indicates that there were relatively few searches for the phrase on that particular day.
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Source: cointelegraph.com
