Market Sentiment Is Not As Strong As On-Chain Activity Today

58

Market sentiment is the public interest in the underlying assets and the behavior of traders on derivatives markets. Thanks to sentiment analysis, one can identify the attitude of long-term investors, as they always sell during the uptrend to short-term speculators and buy the dips with a statistically positive expectation. On the contrary, the crowd psyche is irrational, as they often buy with spiking candlesticks in fear of missing out and dumping in the downtrend.

The state of Bitcoin can be demonstrated with on-chain metrics that paint a more bullish picture than the current derivatives market sentiment.

The public interest has cooled off as shown in google trend data (Source).

Read More:   Why Bitcoin Is Digital Real Estate Today

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More