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<p class="is-style-lead">Santiment, a market intelligence platform with on-chain and social metrics for cryptocurrency, reports that amid recent market fluctuations, the cryptocurrency market is now witnessing a renewed surge.</p> 
<p>The development challenges the earlier bearish sentiment that emerged during the recent downturn.&nbsp;</p> 
<h2 class="wp-block-heading" id="back-on-the-uptrend">Back on the uptrend</h2> 
<p>According to Santiment’s post on X, bullish sentiment became high as airdrop news was coming in, and the fear of missing out was at its maximum level. </p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">📈 The <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#crypto</a> markets are now surging again, completing what appears to have been a temporary <a href="https://twitter.com/hashtag/beartrap?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#beartrap</a>. As markets plummeted the past few days, calls for a <a href="https://twitter.com/hashtag/top?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#top</a> or traders being <a href="https://twitter.com/hashtag/bearish?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#bearish</a> began spiking. Markets move the direction the crowd least expects. <a href="https://t.co/Hwhrd442sh" target="_blank">https://t.co/Hwhrd442sh</a> <a href="https://t.co/BYXTFqrCiH" target="_blank">pic.twitter.com/BYXTFqrCiH</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1734415464707854723?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 12, 2023</a>
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<p>This was followed by bearish sentiment that became apparent as markets corrected, leading to what the platform identified as crowd selling at the top.</p> 
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 <img loading="lazy" decoding="async" width="1024" height="353" src="https://crypto.news/app/uploads/2023/12/Screen-Shot-2023-12-12-at-10.07.45-AM-1024x353.png" alt="Santiment: Cryptocurrency markets experience resurgence - 19" class="wp-image-14226678">
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  Top Crypto Gainers and Losers Today | Source: <a href="https://coinmarketcap.com/gainers-losers/" target="_blank" rel="noopener">CoinMarketCap</a>
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<p> You might also like: <a href="https://crypto.news/ethereum-price-can-reclaim-2k-in-august-santiment-predicts/"> Ethereum price can reclaim $2k in August, Santiment predicts </a> </p> 
<p>Now that markets are back on the uptrend, CoinMarketCap reports that altcoins are continuing to rally, with Osmosis (<a href="https://crypto.news/price/osmosis/">OSMO</a>), KuCoin Token (<a href="https://crypto.news/price/kucoin/">KCS</a>) and Cosmos (<a href="https://crypto.news/price/cosmos-hub/">ATOM</a>) reporting double-digit gains on Dec. 12.</p> 
<h2 class="wp-block-heading" id="surprise-decline">Surprise decline</h2> 
<p>This&nbsp;<a href="https://crypto.news/why-did-the-crypto-market-drop-amid-the-bull-run/" target="_blank" rel="noreferrer noopener">unforeseen shift was reported on Dec. 11</a>, surprising investors who believed the ongoing bull run was unstoppable.&nbsp;</p> 
<p>The sudden downturn interrupted eight consecutive weeks of bullish trends, causing the total crypto market cap to sharply decline from $1.64 trillion on Dec. 10 to slightly under $1.56 trillion within 24 hours. However, the market has since seen a return to the positives.</p> 
<p> Read more: <a href="https://crypto.news/whales-bitcoin-btc-pump-dump-signals-santiment/"> Whales Holding Bitcoin (BTC) After Pump and Dump Signals, Santiment Data Shows </a> </p>

Santiment: Cryptocurrency markets experience resurgence

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