crypto analytics firm centimentAccording to , current social metrics reveal that the crypto community has not embraced the recent recovery in cryptocurrencies.
centimeter, bitcoin Despite the recent rebound in (BTC) and most of the crypto market, Twitter reported that “sell” posts on Reddit and Discord have reached their highest level in two months.
“Cryptocurrency What if prices continue to rise even though the community doesn’t believe the trend can continue? A perfect storm of FUD (fear, uncertainty, doubt) that could cause market caps to continue to recover.”
Bitcoin was trading at $ 24,437 at the time of reporting. The top-ranked crypto-asset by market cap is up more than 3% in the last 24 hours and more than 4.5% in the last seven days.
Santiment also expects Bitcoin to spend most of 2022. S&P 500 He states that he has been in a tight relationship with the stock index, but has been behind the recovery of the stock index recently. The firm also underlined that divergence has historically resulted in bullishness for BTC.
Koinfinans.com Additionally, as reported by Santiment, the best stablecoin on exchanges Tether (USDT) stated that the rate has increased from 19.7% on May 9 to 42.0% currently.
“This can be interpreted both as a sign that traders are making profits as prices recover, and as a sign of a two-year high of purchasing power.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.