Retail traders are split almost evenly between those that believe Bitcoin will rise and those that think it will drop. Attitudes towards the cryptocurrency 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 On Thursday, with “crypto in a bit of a lull, traders are showing signs of impatience & bearish sentiment.”
“The firm’s Social Media Analysis 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 says the measurement is “typically a bullish sign” Markets “historically move in the opposite direction of retail’s expectations.”
Sanbase is Santiment’s platform uses A social monitoring tool crypto topics The sentiment of traders across various social media channels, including Telegram, Discord and Reddit.
Fear & Greed Index drops to “Neutral”
Meanwhile, another sentiment-tracking tool, the Crypto Fear & Greed Index, dropped On Friday, the attitude of the stock market improved from a 54 to 100. “Greed” The following are some of the ways to get in touch with us: “Neutral.”
This index calculates the Index based on indicators that have an impact. traders’ and investors’ behaviorGoogle Trends and other tools, such as surveys, market dynamics, market dominance or social media, are all available. market volatilityThis is based on its own methodology.
This means that the average score last week was 61. “Greed.” In the last month’s index, it averaged 70 points. “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 Bitcoins (BTCOver 37,000 wallets that held less than ten Bitcoins sold them.
“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 $104,600, and it has increased by 3% during the last fourteen days. shows.
Ethereum has a similar tendency
Major Ethereum holders have been scooping up EtherETHSince the beginning of this month, retail 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
