XRP’s price surged amid broader uncertainty in the crypto market, driven by aggressive whale accumulation and speculation about a possible ETF listing in the US, according to crypto analysts.
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Dogecoin crowd sentiment is at a low point, which could point to a buying opportunity before the crypto market starts moving higher again, according to Santiment.
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The ratio of mentions on social media for “buying the dip” has ramped up as Bitcoin dropped below the six-figure price level just days before Christmas, according to Santiment.
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The pullbacks in the crypto market will be a “buy a dip” scenario for “much longer than everyone expects,” according to Syncracy Capital co-founder Daniel Cheung.
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Sand, XLM, and Ether are leading social discussions among traders at the moment, according to data from analytics platform Santiment.
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A crypto trader argued that it is easy for crypto market participants to be “convinced sentiment is one way or the other,” while claiming that the sentiment is not “that bullish currently.”
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Blockchain analytics firm Santiment says a decline in Bitcoin whale activity is not necessarily a bearish sign.
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Bitcoin whales have been increasingly active lately, gobbling up more crypto as smaller traders feel the pressure and sell their holdings.
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According to Santiment data, the term “Bitcoin” is being used more positively on social media now than at any time in the past 16 months.
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The amount of positive Bitcoin commentary on social media is just a third of what it was four months ago, according to Santiment.
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