bullish

2024

Bitcoin

when

<p>The post <a href="https://coinpedia.org/news/fear-rises-as-crypto-market-crash-santiment-report-reveals-bitcoins-next-price-target/">Fear Rises as Crypto Market Crash: Santiment Report Reveals Bitcoin’s Next Price Target</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency market experienced a significant downturn on September 4, with total market capitalization <a href="https://coinmarketcap.com/">dropping by over 4.25%</a> to around $1.98 trillion. Bitcoin (BTC) and Ethereum (ETH), two of the largest cryptocurrencies by market cap, saw their prices slip to $56,050 and $2,375, respectively. This decline has sparked fear among traders, who are not fully committed to either bullish or bearish positions.</p> 
<h2 class="wp-block-heading" id="h-high-fear-low-hope-in-the-market">High Fear, Low Hope In The Market</h2> 
<p>Santiment, a market intelligence platform, notes that the recent drop has led to increased chatter about a potential “bear market.” Some traders are unsure if this recent dip is just another attempt to push out weak investors or if it’s a sign that Bitcoin could fall even further, possibly down to $40,000.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f62f.png" alt="😯" class="wp-smiley" style="height: 1em; max-height: 1em;"> What are some of the key crowd social trend metrics indicating after this latest dip? Are the necessary panic signs and small trader sell-offs creeping in once again to hint at a quick rebound? We take a quick look in our latest insight: <a href="https://t.co/64Tb5j0bGk">https://t.co/64Tb5j0bGk</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1831203021432451349?ref_src=twsrc%5Etfw">September 4, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>While there has been a noticeable increase in talks about a “bear market,” there’s also been a slight rise in more positive terms like “bull market.” This suggests that some traders are still hopeful for a rebound.&nbsp;</p> 
<p>However, the overall mood remains cautious, with less enthusiasm for “buying the dip” compared to previous price drops.</p> 
<h2 class="wp-block-heading" id="h-cautious-response-to-price-decline">Cautious Response to Price Decline</h2> 
<p>Despite the <a href="https://coinpedia.org/news/why-crypto-market-is-down-today-september-capitulation-and-etf-cash-outflows/">recent drop in prices</a>, there hasn’t been a significant increase in discussions about buying assets at lower prices. Unlike the excitement seen during the July 4 and August 4 dips, this latest decline has not sparked much interest among traders.&nbsp;</p> 
<p>In addition, talks about lower Bitcoin price targets, like $40,000 to $45,000, haven’t increased as much as expected. This might indicate that traders are waiting for <a href="https://coinpedia.org/news/bitcoin-price-to-skyrocket-with-fed-rate-cut-but-recession-hints-a-big-crash/">Bitcoin to get closer</a> to $50,000 a key psychological level before they become more concerned about the possibility of further drops.</p> 
<p>Currently, there is a lack of significant discussion around both high and low targets, suggesting that traders are not yet fully engaged in either bullish or bearish positions.</p> 
<h2 class="wp-block-heading" id="h-interest-in-meme-coins">Interest in Meme Coins</h2> 
<p>Santiment also looked at how much people are talking about speculative “<a href="https://coinpedia.org/crypto-live-news/trader-shifting-intrest-from-defi-to-memecoin-as-monthly-defi-protocol-fees-dropped-by-24/">meme coins</a>” like DOGE, BONK, and WIF. These coins often reflect the mood of the market. While there has been a slight increase in discussions about these coins, it’s much less than what was seen earlier this year in March, April, or even June.</p> 
<p>The low interest in meme coins suggests that traders are not as eager to take risks, which often happens when the market is at a high point. Instead, it seems the market is in a waiting phase, with only a small rise in interest in these risky assets.</p> 
<h3 class="wp-block-heading" id="h-what-to-expect">What To Expect?</h3> 
<p>Santiments look at market sentiment suggests that the cryptocurrency market might be closer to a bottom than a top. However, with the overall mood still cautious and no clear signs of extreme fear or greed, the market’s future is uncertain.</p>

Fear Rises as Crypto Market Crash: Santiment Report Reveals Bitcoin’s Next Price Target

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