Retail traders are split almost evenly between those that believe Bitcoin will rise and those who do not. Attitudes towards the crypto currency have reached a new low, last experienced in April after Donald Trump revealed his global tariffs.
Crypto research platform Santiment marketing director Brian Quinlivan said The Thursday before Thanksgiving is a day that includes “crypto in a bit of a lull, traders are showing signs of impatience & bearish sentiment.”
The firm’s analysis of social media found that “there are just 1.03 bullish comments for every 1 bearish comment, which hasn’t happened since peak FUD [fear, uncertainty and doubt] during initial tariff reactions on April 6.”
Quinlivan stated that the unit of measurement is “typically a bullish sign” As markets “historically move in the opposite direction of retail’s expectations.”
Sanbase, the platform of Santiment uses Monitor social media with this tool crypto topics This includes Telegram and Discord as well as Reddit, X, and Reddit.
Fear & Greed Index drops to “Neutral”
Meanwhile, another sentiment-tracking tool, the Crypto Fear & Greed Index, dropped The market’s attitude improved to 54 points out of 100 last Friday. “Greed” You can also find out more about the following: “Neutral.”
Calculated based upon signals impacting the index traders’ and investors’ behaviorGoogle Trends includes market trends, survey results, dominance of the market, and social media. market volatilityAccording to its method.
Average score from last week (June 9-15) was 61. “Greed.” The index scored an average of 70 last month, which is also indicative “Greed.”
Whale wallets stack Bitcoin
Quinlivan provided a separate report on Thursday. said Bitcoin is attracting both large and small Bitcoin investors “two different directions.”
Santiment discovered that in the past 10 days 231 wallets had accumulated 10 or more Bitcoin (BTCOver 37,000 wallets holding less than 10 Bitcoins have also sold off their assets.
“When large wallets accumulate as retail loses confidence, this is historically the right combination for bullish momentum to inevitably return to crypto markets,” Quinlivan said.
Related: Crypto social media sees rising interest in AI taking jobs: Santiment
Data from CoinGecko shows that Bitcoin currently trades at around $104,600, and it has grown by 3% during the last fourteen days. shows.
Ethereum is following a similar pattern
The Major Ethereum holders have been scooping up EtherETHRetail investors are also cashing in.
Cointelegraph reported in early June that Bitget’s operating chief Vugar usi Zade said to Cointelegraph. retail trading has shifted away Stop speculating and start using more realistic and sustainable uses cases.
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Source: cointelegraph.com
