Santiment Suggests Prices May Defy Mass Traders’ Expectations Ahead of Halving
Blockchain analytics platform Santiment has suggested that the current bearish sentiment surrounding Bitcoin may soon be overturned.
In a recent post , Santiment highlighted the historical tendency of prices to move in the opposite direction of mass traders’ expectations.
According to the platform, the market could potentially bottom out right before or shortly after the highly anticipated halving event, expected to occur within the next two days.
Santiment’s analysis is based on data gathered from various social media platforms such as Telegram, Reddit, X, and 4Chan.
By tracking keywords and topics that generate interest within the crypto community, Santiment’s Social Trends indicator provides valuable insights into market sentiment.
The platform’s data reveals a decline in mentions of “bull market” or “bull cycle” since late March, while references to “bear market” or “bear cycle” have steadily increased.
Santiment notes that the crypto crowd perceives the end of the bull market following Bitcoin’s 16% drop from its all-time high of $73,600 on March 14.
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