“Buy The Dip” Sentiment Fails To Save Crypto Market, New Data Reveals Why
Since crypto prices have fallen to their lowest point, now is the ideal time to “Buy-the-Dip.” But during these brief price declines, traders appear to be shorting cryptocurrency more than they are buying it. “Buy-the-Dip” Sentiments Does Not Stop Crypto Shorting More short sales or shorting occur in altcoins than in bitcoin. In the past day, short holdings in Bitcoin (BTC) have averaged roughly 51% across exchanges, while short positions in altcoins have averaged about 55%. BTC/USD hovers around $20k. Source: TradingView Santiment, an on-chain analytics tool, states that data....
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NVT is a “buy the dip” opportunity that few ever get access to this week, one analyst says, as BTC/USD stays in the mid-$40,000 range. Bitcoin (BTC) is facing a make-or-break moment this week as a classic indicator signals a price watershed. According to the network value to transaction (NVT) price, BTC/USD is in line for a reset at recent lows of just above $42,000.NVT calls a significant BTC moveAfter dipping on negative sentiment as a result of tweets from Elon Musk, Bitcoin is attempting to establish definitive support near its old all-time highs from February.At the same time, NVT,....
The world's flagship Bitcoin spot ETF is back buying Bitcoin after spending four weeks reducing its holdings. The world’s first Bitcoin (BTC) spot price exchange-traded fund (ETF) is buying BTC again after a month of selling.Data from on-chain monitoring resource Coinglass confirms that on April 27, Canada’s Purpose Bitcoin ETF added 1,132 BTC to its holdings.Data: Buy the dip interest "skyrocketing"Despite fears that Bitcoin is not yet done with its sell-off, an about turn at Purpose hints at increasing institutional demand.Beginning March 28, when BTC/USD traded above $48,000, Purpose....
Ethereum whales are going straight to market to load up their bags as ETH falls to ‘discount prices’. Just like the rest of the crypto market, Ethereum has taken a beating down, falling more than 20% in the last three days. While panic continues to spread across the market, whales have loaded up their holdings with more than 600,000 ETH. Ethereum Whales Buy The Dip The “Buy the dip” sentiment is still really strong among players in crypto. Since the assets are currently at one of the lowest price points for the year 2022, it presents an opportunity for those looking to buy the digital....
On-chain analytics platform Santiment has weighed in on whether the Bitcoin price has reached its bottom, following its drop to the $108,000 range. The platform alluded to the current social sentiment, suggesting that a further drawdown may be looming. Bitcoin Price Bottom Not Yet In Amid Spike In Social Dominance In a research report, Santiment indicated that the Bitcoin price bottom may not yet be in, considering the surge in the social dominance of ‘buy the dip’ mentions. The platform explained that a true bottom is often marked not by price but by a shift in social narrative from ‘buy....
Major bitcoin investment manager NYDIG has shared that its desk, other institutions increasingly act on a “buy the dip” mentality.