Bitcoin and Ethereum Evaluation from Santiment! “This Must Happen for Prices to Rise!”

The two biggest cryptocurrencies came in the inflation data from the USA yesterday, below the expectations. bitcoin and EthereumIt caused the rise in .

Bitcoin rose above $ 18,000 with the announced data, while the biggest altcoin ETH also rose as high as $1350.

These prices BTC and ETHIt was spotted on approximately November 10.

Cryptocurrency analysis platform evaluating the rise in Ethereum centimentHe said that ETH has risen above $1,335 for the first time in 5 weeks.

Stating that there has been an increase in Ethereum address activity, Santiment said, ETH He stated that address activity has reached its highest level in 17 months.

In this regard, Santiment pointed out that Ethereum has seen an average of 637,000 wallet interactions per day on the network recently.

Santiment in this regard “Ethereum is enjoying the highest weekly address activity in 17 months, with an average of more than 637,000 wallets per day.” said.

Stating that the stated increase did not coincide with making a profit, which is a positive outcome, Santiment shared the following statements:

“The benefit for Ethereum rose to its highest level since May 2021 this week.
ETH broke above $1,335 for the first time in 5 weeks.

It is a good sign that this increase in address activity does not coincide with a normal profit taking opportunity.”

📈 Utility for #Ethereum has risen to its highest level since May, 2021 this week. $ETH has jumped back over $1,335 for the first time in 5 weeks. It’s a good sign that this spike in address activity is not coinciding with a normal profit take opportunity. https://t.co/3uPtQLLviF pic.twitter.com/qX8OTRcytN

— Santiment (@santimentfeed) December 13, 2022

“This Is Necessary For Bitcoin And Crypto Prices To Rise!

Santiment also increased with rising prices. cryptocurrency stated that its traders are also overly excited to buy.

However, after the increasing enthusiasm, a retracement was observed in the prices.

Evaluating this enthusiasm and pullback, Santiment explained what is needed to keep prices high:

“Yesterday, there was a nice rebound in the crypto markets as both Bitcoin and Ethereum jumped to their highest levels since the bankruptcy of FTX hit the markets.

We would like to see the enthusiastic blue bars stay low and the fearful red bars rise to push prices further. “

🥳 #Crypto enjoyed a nice resurgence Tuesday, as both #Bitcoin and #Ethereum jumped to their highest levels since #FTX collapse news was hitting markets. We want to see euphoric blue bars stay low, & fearful red bars to spike, for prices to climb further. https://t.co/pRY8Pwrzls pic.twitter.com/5PcrMrAfZQ

— Santiment (@santimentfeed) December 13, 2022

*Not investment advice.