Data suggest that pessimism is beginning to take over again amidst dwindling market caps.
The crypto market’s violent downtrend left many hoping for a quick rebound, as evidenced by a huge rise in “buy the dip” mentions across several social media channels. However, this “wishful thinking” has died down, with top assets such as Bitcoin still hovering in the bearish territory with no near-term signs of a reversal.
Santiment observed that Reddit stands out as a dominant social media platform with the highest consensus of “buy the dip” mentions. After a minor upsurge, Twitter reverted to a neutral stance. A similar trend was seen across 4chan and Telegram as well.
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