Crypto data platform Santiment is offering insight into the signals that could indicate the right time to accumulate Bitcoin (BTC) and altcoins. According to Santiment’s marketing director Brian Quinlivan, buying opportunities for crypto assets have historically presented themselves when trader sentiment is neither pessimistic nor optimistic across major social media platforms such as Reddit and X.Immediately after Bitcoin fell close to $26,000 for the first time since June, optimism in the crypto community was high. However, the sentiment quickly changed and the percentage of discussions related to Bitcoin spiked to its highest level of the year.Quinlivan states that it is a good sign that people are no longer certain that this is a dip buy spot, as it means that pessimism is beginning to take over again as market caps fade. He also notes that the wishful thinking has died down considerably in the past few days.Quinlivan suggests that Bitcoin social dominance should stay quite high, as this scenario is usually correlated with thriving and healthy crypto markets. High discussion related to the number one asset coincides with fear, whereas discussions about more speculative assets tend to coincide with greed.At the time of writing, Bitcoin is trading at $26,033.
| Information |
Details |
| Geography |
Global |
| Countries |
|
| Sentiment |
neutral |
| Relevance Score |
8 |
| People |
Brian Quinlivan |
| Companies |
Santiment, Reddit, X, Bitcoin, The Daily Hodl |
| Currencies |
Bitcoin, Ethereum |
| Securities |
None |
