Sentiment Analysis Reveals 'Improved Sentiment from Retail Investors as BTC Recovers'
CryptoNewsTerminal Staff10 Sep, 2024
Sentiment Analysis Reveals 'Improved Sentiment from Retail Investors as BTC Recovers'
Sentiment analysis conducted by X indicated a positive shift in sentiment among retail investors as BTC surpassed the $58,000 mark. This is reflected in the increasing percentage of supply held by addresses with less than 1 BTC, reaching its highest level in the past seven months. The analysis suggests that for BTC to make another attempt at its all-time high, the ideal conditions are: - A decrease in the number of addresses holding less than 1 BTC - A sustained increase in the number of addresses holding between 1 and 100 BTC - Continued aggressive buying from addresses with balances of 100 BTC or more.
