Wednesday

Bitcoin

Rise

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<p lang="en-GB" xml:lang="en-GB">On-chain analytics company Santiment believes that what is currently called a bear market by <a href="https://u.today/bitcoin-btc-remains-above-key-level-analyst" rel="noopener noreferrer nofollow">crypto traders</a> is likely to reverse soon, and crypto prices may U-turn.</p> 
<h2 id="positive-sign-that-crypto-markets-will-rebound">"Positive sign that crypto markets will rebound"</h2> 
<p>Santiment tweeted that the main reason for the potential rebound of cryptocurrencies could be the fact that crypto traders now are showing FUD (an acronym meaning "fear, uncertainty, doubt" popular in the crypto space) and increasingly calling the current state of things a "bear market."</p> 
<p>The Santiment team pointed out that, historically, big FUD shown by traders and other market players led to substantial price surges of crypto.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">🐻 A positive sign that <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> markets will rebound is the fact that traders are increasingly referring to current market conditions as a <a href="https://twitter.com/hashtag/bearmarket?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bearmarket</a>. Historically, when traders show <a href="https://twitter.com/hashtag/FUD?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#FUD</a>, the probability of price rises increases considerably. <a href="https://t.co/jxENgl1nNz" rel="noopener noreferrer nofollow">https://t.co/jxENgl1nNz</a> <a href="https://t.co/K8W7uAotz6" rel="noopener noreferrer nofollow">pic.twitter.com/K8W7uAotz6</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1694520043252711671?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 24, 2023</a> 
</blockquote> 
<h2 id="bitcoin-rebounds-driven-by-this-factor">Bitcoin rebounds, driven by this factor</h2> 
<p>Over the past 24 hours, the premier global cryptocurrency, <a href="https://u.today/heres-why-bitcoin-btc-price-is-going-up" rel="noopener noreferrer nofollow">Bitcoin, demonstrated a small rise</a> of 2.47%, going up from $25,831 to the $26,470 area, where it is trading now.</p> 
<p>According to a Santiment tweet published earlier today, this rebound of BTC can be attributed to recent accumulation by medium and large investors, known as sharks and whales on the market.</p> 
<p>Per Santiment, they have purchased cumulatively a whopping $308.6 million worth of Bitcoin over the past week. Now, there are 156,600 wallets out there that contain from 10 to 10,000 Bitcoins each.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">🐳🦈 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> jumped back as high as $26.8K Wednesday as key whale &amp; shark addresses are now collectively adding to their stacks once again. There are currently 156,660 wallets holding 10 to 10,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>, and they have accumulated $308.6M since August 17th. <a href="https://t.co/6vuJpHRTvD" rel="noopener noreferrer nofollow">https://t.co/6vuJpHRTvD</a> <a href="https://t.co/vuNgEER2fZ" rel="noopener noreferrer nofollow">pic.twitter.com/vuNgEER2fZ</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1694496292934963414?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 23, 2023</a> 
</blockquote>

Crypto Price Rise Probability Soars, per Santiment, Here's Why

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