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.
According to Santiment’s latest insight, it’s a good sign that people are no longer certain that this is a dip-buying spot. It means that pessimism is beginning to take over again as market caps fade.
When Actual Opportunity?
The market is still reeling from Bitcoin’s plunge to $25.3K and the subsequent altcoin bloodbath. Most top 20 crypto-assets have posted double-digit losses over the past week. What followed soon was the anticipation of a quick market recovery.
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 (X) reverted to a ne
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