Analysis: 'Decline in BTC purchasing behavior at low prices... Nearing the bottom
CryptoNewsTerminal Staff03 Sep, 2024
Analysis: 'Decline in BTC purchasing behavior at low prices... Nearing the bottom
Analysis: 'Decline in BTC purchasing behavior at low prices... Nearing the bottom? Brian (brianq), an analyst at on-chain analytics firm Santiment, explained, "Regarding the recent BTC price rebound, there is a mix of positive and neutral signals. First, the increase in the number of traders mentioning that the current market situation is a bear market is a positive sign that a rebound is imminent. The fact that the enthusiasm for buying at low prices has decreased despite the significant drop in BTC price in August can also be considered a good sign. On the other hand, the steady increase in the number of mentions of keywords such as bull market, the lack of a clear signal of fear or greed, and the overall decline in interest in meme coins are neutral signals. However, when all the signals are taken together, it can be said that the market is closer to the bottom than the top."
