Zinger Key Points
- Santiment data reveals shifting sentiment across the largest crypto market caps, with trends ranging from neutral to bullish.
- Dogecoin exhibits bearish sentiment, while XRP maintains a slightly bullish outlook.
- Get New Picks of the Market's Top Stocks
A new report shows diverging sentiment across the biggest cryptocurrencies, despite market-wide downturn fears.
Santiment, an on-chain analytics platform analyzed the top cryptocurrencies’ based on social media trends over the past three months.
Cryptocurrency | Price | Past 7-Day Gains | Crowd Sentiment |
Bitcoin BTC/USD | $93,820 | -4.1% | 3/5 (Neutral) |
Ethereum ETH/USD | $3,260 | -5.6% | 2/5 (Slightly Bearish) |
Solana SOL/USD | $187.7 | -8.8% | 4/5 (Semi Bullish) |
XRP XRP/USD | $2.3 | -4.3% | 4/5 (Slightly Bullish) |
Binance Coin BNB/USD | $686.60 | -4.5% | 3/5 (Neutral) |
Dogecoin DOGE/USD | $0.3211 | -4.7% | 1/5 (Bearish) |
Bitcoin: Crowd sentiment remains neutral following a Fed-induced price retrace on Dec. 20. Traders are waiting for a significant price move before committing to strong positions.
Ethereum: Momentum cooled after briefly reclaiming $4,000. Traders are cautious of a dip below $3,000, which could trigger panic selling and create buying opportunities.
XRP Ledger: XRP has outperformed peers with an 18% rally in early January, retaining bullish sentiment following its November-December surge.
Binance Coin: After a strong rally in November, BNB sentiment turned uncertain, particularly as it dropped below $700. Social media activity remains subdued unless significant price movements occur.
Solana: Despite a 25% decline over six weeks, Solana's community remains optimistic. Analysts suggest waiting for sentiment to fade further for better buying opportunities.
Dogecoin: Dogecoin has dropped 28% since its recent peak, experiencing minimal hype. Contrarian traders may see upside if broader markets turn bullish.
Statistics: Santiment noted that many wallets active in the last 30 days—including those holding BTC, ETH, Cardano ADA/USD, DOGE,and other altcoins—are operating at a loss.
This suggests potential buying opportunities, as "blood in the streets" moments have historically led to profitable recoveries for seasoned traders.
While these signals point to a short- to mid-term recovery, they do not guarantee an immediate rebound.
Why It Matters: Diverging sentiment across major crypto assets underscores the importance of crowd psychology in market trends.
Extreme bearish sentiment often marks entry points for contrarian traders, while excessive euphoria signals caution.
Understanding these dynamics can help traders navigate volatile markets more effectively.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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