Santiment Warns Investors in Short Positions: “Data in Bitcoin and Five Altcoins Point to an Upcoming Rise!”

Following SEC’s spot ETF approval Bitcoin There was a correction in cryptocurrencies, especially cryptocurrencies.

At this point, while there is a general calm in the cryptocurrency market, the popular on-chain data platform centimeterstated that last week and this week, downward negative sentiment prevailed in the market and investors.

Santiment cited the market’s inability to effectively exhibit the bullish pattern that traders have become accustomed to since the bull cycle that began last October as one reason why negative sentiment has prevailed.

Here the negative sentiment is reflected in the largest cryptocurrencies due to the recession. Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Binance Coin (BNB), XRP and Cardano (ADA) Stating that it has become even stronger for the cryptocurrencies, Santiment underlined that this is the first time such a negative feeling among major cryptocurrencies has emerged in more than six months.

Finally, Santiment, BTC, ETH, XRP, BNB, ADA and SOLHe pointed out that a bullish signal was hidden behind the increasing negativity towards .

At this point, Santiment stated that investors exhibiting anxiety, fear, uncertainty and FUD for more than one major cryptocurrency indicates that there is a high probability of a jump in the short term.

Santiment points out that there is a high probability of a jump in the market here and warns investors who are in a short position.

“There is a notable bearish sentiment pervading the crypto discourse this week, as crypto market values ​​remain volatile and traders fail to display the usual bullish pattern they have become accustomed to since the bull cycle began in October.

Bitcoin, Ethereum, BinanceCoin, XRP, Cardano and Solana are in a more negative audience sentiment range compared to their historical averages. This is the first time this has occurred in more than 6 months.

When investors become anxious and show FUD across multiple major assets, it is a sign that market values ​​are more likely to see an impending bounce.

“Markets have historically moved in the direction the crowd least expected, causing the rally to catch many short investors off guard.”

🐻 #crypto market caps ranging and lacking the usual growth traders have been accustomed to since the #bullcycle began in October, there is a notable #bearish sentiment that has taken hold of #crypto discourse this week. #Bitcoin, #Ethereum, #BinanceCoin,

(Cont) 👇 pic.twitter.com/c3M4bPxlhi

— Santiment (@santimentfeed) February 5, 2024

*This is not investment advice.