Analytics firm Santiment emphasizes one metric that usually precedes a rally for Bitcoin (BTC) and other crypto assets.
Santiment out The ratio of Bullish Koning Crypto Sentiment to Bearish sentiment from retail traders has reached a low point of two months.
A low ratio of the metric is “usually a bullish sign”, according to the analysis company.
“With crypto in a bit of silence, traders show signs of impatience and bearish sentiment. There are only 1.03 bullish comments for every 1 bearish remark, which has not happened since peak fear, uncertainty and doubt (FUD) during the first tariff reactions on 6 April …
… Markets move historically in the opposite direction of the expectations of the retail trade. A good example was the optimum purchase time in the early April fear of other traders. “
Santiment out That the conflict in the middle in which Israel and Iran are involved “will probably continue to cause volatile and unpredictable price action” for the cryptomarkt.
“Despite the initial panic, Bitcoin has remained in the $ 104,000 $ 105,000 range, helped by consistent stock market-bound funds (ETF) entry and a lack of follow-through in military actions, in which the typical ‘risk-off is reflected and subsequently stabilizes in earlier crises.’
Bitcoin acts at $ 104,431 at the time of writing.
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