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<p><em><a href="https://insights.santiment.net/read/september-mid-month-report-markets-treading-water-polarization-gets-hotter-7378?fpr=twitter" target="_blank" rel="noopener noreferrer nofollow">According to Santiment,</a> the leading analytics firm in the crypto space, September has been a month of highs and lows for the cryptocurrency market. This comprehensive report delves into the various factors that have shaped the market’s trajectory.</em></p> 
<h2 class="wp-block-heading" id="a-rocky-start-to-september">A Rocky Start to September</h2> 
<p>The month kicked off on a shaky note, with Bitcoin (BTC) experiencing a brief surge to $28,000 on August 29th, thanks to Grayscale’s legal triumph over the SEC. However, this optimism was short-lived. By September 1st, the price plummeted back to $25,000, leaving investors and traders in a state of uncertainty.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="540" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-301-1024x540.png" alt="" class="wp-image-337978" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-301-1024x540.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-301-300x158.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-301-767x405.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-301-1536x811.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-301-2048x1081.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-301-284x150.png 284w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-301-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-301-663x350.png 663w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-301-788x415.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p> 
<h2 class="wp-block-heading" id="mild-recovery-and-altcoin-surprises">Mild Recovery and Altcoin Surprises</h2> 
<p>Since the initial drop, the market has seen a modest recovery, but nothing substantial enough to excite investors. Bitcoin Cash (BCH) has been a notable exception, gaining traction due to its potential inclusion in upcoming ETFs. Meanwhile, Toncoin has emerged as the month’s standout performer, soaring by more than 105% since August.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="505" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-302-1024x505.png" alt="" class="wp-image-337986" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-302-1024x505.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-302-300x148.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-302-766x378.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-302-1536x758.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-302-2048x1011.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-302-304x150.png 304w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-302-100x49.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-302-709x350.png 709w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-302-788x388.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<h2 class="wp-block-heading" id="trader-sentiment-a-mixed-bag">Trader Sentiment: A Mixed Bag</h2> 
<p>The lackluster price action has led to growing impatience among traders. Santiment’s data reveals a split in market sentiment. While some are optimistic about BTC reclaiming the $30,000 mark, others are astonished that the price has managed to hover above $25,000 amid a slew of negative news.</p> 
<h2 class="wp-block-heading" id="binance-s-trust-issues">Binance’s Trust Issues</h2> 
<p>Adding to the market’s woes is the eroding consumer trust in Binance, the world’s largest crypto exchange. Recent SEC audits have cast doubts over the exchange’s collateralization, causing ripples of concern throughout the crypto community.</p> 
<h2 class="wp-block-heading" id="economic-indicators-and-market-reactions">Economic Indicators and Market Reactions</h2> 
<p>On a positive note, the recent Consumer Price Index (CPI) report from the U.S. has indicated a slightly faster-than-expected economic growth, which seems to have given the market a minor boost. Conversations around CPI and inflation have surged, often coinciding with market lows, which could be a silver lining.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="662" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-303-1024x662.png" alt="" class="wp-image-337994" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-303-1024x662.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-303-300x194.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-303-768x496.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-303-1536x992.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-303-2048x1323.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-303-232x150.png 232w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-303-100x65.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-303-542x350.png 542w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-303-788x509.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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<h2 class="wp-block-heading" id="the-bull-vs-bear-debate">The Bull vs. Bear Debate</h2> 
<p>Interestingly, discussions labeling the current state as a ‘Bear Market’ have been rising at a faster rate than those favoring a ‘Bull Market.’ This increased vocalization from both camps could historically be a sign of market vitality, as apathy is the real enemy.</p> 
<h2 class="wp-block-heading" id="profit-taking-among-top-assets">Profit-Taking Among Top Assets</h2> 
<p>As markets began to rebound last week, Bitcoin saw its highest ratio of profit-taking to loss-taking since early July. This could be a red flag, signaling that the market might be running out of steam in the short term.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="545" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-304-1024x545.png" alt="" class="wp-image-338003" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-304-1024x545.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-304-300x160.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-304-767x408.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-304-1536x817.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-304-2048x1089.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-304-282x150.png 282w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-304-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-304-658x350.png 658w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-304-788x419.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<h2 class="wp-block-heading" id="bitcoin-s-diminishing-dominance">Bitcoin’s Diminishing Dominance</h2> 
<p>The ratio of discussions related to Bitcoin versus other crypto projects has returned to average levels. Earlier in the year, Bitcoin dominated the conversation, but its stagnant price performance has shifted the focus towards more speculative assets.</p> 
<h2 class="wp-block-heading" id="whale-watch">Whale Watch</h2> 
<p>Whale activity has remained relatively flat, with addresses holding between 10 to 10,000 BTC making up just over two-thirds of Bitcoin’s total supply. This lack of movement suggests that large investors are currently in a holding pattern.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="546" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-305-1024x546.png" alt="" class="wp-image-338011" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-305-1024x546.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-305-300x160.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-305-767x409.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-305-1536x819.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-305-2048x1092.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-305-281x150.png 281w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-305-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-305-656x350.png 656w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-305-788x420.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<h2 class="wp-block-heading" id="network-activity-and-ftx-liquidations">Network Activity and FTX Liquidations</h2> 
<p>In a noteworthy development, there has been a significant uptick in active Bitcoin (BTC) addresses on the network. This pattern mirrors a similar increase observed in Ethereum (ETH) addresses last week. The prevailing theory attributes this surge to the initiation of FTX liquidations, which were recently greenlit. </p> 
<p>As a result, numerous addresses that had been dormant for nearly a year are now re-engaging with the network. While this reactivation of old coins is a positive sign, indicating their re-entry into active trading pools, it’s crucial to note that this surge may be short-lived, lasting only until these coins are fully liquidated from FTX’s official wallets.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="545" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-307-1024x545.png" alt="" class="wp-image-338028" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-307-1024x545.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-307-300x160.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-307-766x408.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-307-1536x818.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-307-2048x1090.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-307-282x150.png 282w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-307-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-307-657x350.png 657w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-307-788x419.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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<p>The impact of this activity is particularly evident on the Ethereum network. Just a week ago, the average “dollar age” of ETH held in wallets was 518 days; it has now dropped sharply to 494 days. This metric, known as the mean dollar age curve, is often considered a leading indicator of potential bull runs. </p> 
<p>The hope is that this downward trend continues, signifying that older coins are becoming “younger” as they re-enter circulation. Whether this is a temporary blip due to FTX liquidations or the precursor to a larger market movement remains to be seen.</p> 
<h2 class="wp-block-heading" id="altcoin-trends-and-anomalies">Altcoin Trends and Anomalies</h2> 
<p>Santiment’s new Trending Tokens page and Anomaly Finder matrix offer insights into rising assets and unusual activity. Tokens like LINK, USDT, and <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> are currently trending, while projects like Frontier and Powerpool are experiencing high levels of unusual activity.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="652" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-306-1024x652.png" alt="" class="wp-image-338019" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-306-1024x652.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-306-300x191.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-306-767x488.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-306-1536x978.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-306-2048x1304.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-306-236x150.png 236w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-306-100x64.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-306-550x350.png 550w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-306-788x501.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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<p><strong>As we approach the end of September and look forward to Bitcoin’s next halving in less than six months, the market remains a complex web of metrics, sentiments, and external factors. </strong>Stay tuned for further updates as we continue to monitor these evolving conditions.</p> 
<p><em>For more in-depth analysis and metrics, visit <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment’s platform</a></strong> and explore their range of analytical tools.</em></p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/what-is-santiments-data-telling-us-bitcoin-at-a-standstill-while-this-altcoin-forges-ahead-in-september-report/">What Is Santiment’s Data Telling Us? Bitcoin at a Standstill While This Altcoin Forges Ahead in September – Report</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

What Is Santiment’s Data Telling Us? Bitcoin at a Standstill While This Altcoin Forges Ahead in September – Report

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