Crypto data firm Santiment is examining the sentiment of Bitcoin traders to determine if the leading cryptocurrency is near the bottom. He also explains which altcoin projects have caught the attention of whales. cryptocoin.com We transfer data as…
New data on Bitcoin and altcoin market from Santiment
The analyst said that sentiment among Bitcoin traders dropped to a level not seen in three months, and market participants began to capitulate. Bitcoin is showing signs of capitulation after prices remained below $50,000 for most of December, according to the firm. According to the firm, this is the most negative behavior from traders since the beginning of October, a good sign that prices may finally bounce back after the FUD.
As for Ethereum, Santiment notes that the biggest ETH whales continue to accumulate the leading altcoin regardless of market conditions. Whale addresses holding between 100,000 and 10 million ETH have accumulated 1.41 million tokens worth $5.58 billion since October 1, according to the platform, which says whale behavior continues to play an important role in Ethereum price. It has also added 2.8 percent more tokens to its bags in the last 2.5 months.
Santiment is also closely monitoring the flow of stablecoin Tether (USDT) to crypto exchanges. According to the crypto data firm, investors are poised to keep the dollar on the sidelines amid the constant correction in the cryptocurrency market. Santiment uses the following expressions:
The rate of stablecoin Tether on exchanges rose to 22.5 percent, its highest level in six months. This supply amount turns into $ 8.99 billion, showing that the purchasing power accumulated in the stock markets has increased.
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