2024

Bitcoin

Bitcoin continues to fall due to the “sell the news” event in the face of expectations of a price increase following the spot ETF approval.
At this point, while BTC first fell below the important psychological level of $ 40,000, this decline continued until $ 39,000.
Evaluating the decline in BTC, Santiment pointed out that Bitcoin fell to these price levels for the first time since December 2023 and described this decline as a bloodbath.
Santiment also stated that there was a decrease in BTC and Ethereum (ETH) conversations compared to the ETF approval week, and said that FUD was starting to rise and argued that this could be a bullish signal.
<blockquote>
 “Bitcoin fell below $40,000 for the first time since December. Monday turned into a bloodbath for most of the cryptocurrency industry.
 Specifically, compared to the previous ETF approval week, conversations for BTC were down 35% and conversations for ETH were down 21%.
 “This indicates that FUD is starting to rise, and when FUD reaches its peak, it starts to kick in, creating nice price bounce opportunities.”
</blockquote>
Given that historically there has been a positive correlation between the level of FUD and the likelihood of a price bounce, Santiment analysts point out that as FUD establishes, the likelihood of a price bounce increases.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> briefly fell below $40K for the first time since December 4th. Monday has been a bloodbath for most of the <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> sector. Notably, there is 35% less discussion toward <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> and 21% less toward <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> compared to the prior <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETF</a> approval week. <a href="https://twitter.com/hashtag/FUD?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#FUD</a> is
 (Cont) <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/iievb8mbHJ" rel="noopener noreferrer nofollow">pic.twitter.com/iievb8mbHJ</a>
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1749527085310500873?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 22, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/santiment-evaluates-the-latest-drop-fud-comes-into-action-in-bitcoin/" rel="noopener noreferrer nofollow">Santiment Evaluates the Latest Drop: "FUD Comes into Action in Bitcoin!"</a>

Santiment Evaluates the Latest Drop: "FUD Comes into Action in Bitcoin!"

Bitcoin Sistemi EN

Other articles published on Jan 23, 2024

Is XRP Gearing Up For A Reversal After Drop Below $0.53?

Cryptocurrencies set to reach $100 in 2024

Maxine Waters Queries Meta on New Crypto Trademark Filings

Bitcoin Plummets Below $40,000: Analysts Weigh In

Myro Price : Will Myro coin hit $1 in 2024?

Analyst Forecasts XRP’s Bullish Track to Reach $27 Despite Recent Dips

Join our free newsletter for daily crypto updates!