Bearish Flip in Crypto Crowd Sentiment Hints at Coming Bitcoin Price Bounce

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Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.

Social media metrics suggest crypto followers are beginning to adopt a bearish attitude on bitcoin's price trajectory."The masses are always wrong.

Santiment's Social Trends indicator tracks chatter across Telegram, Reddit, X and 4Chan to identify keywords or topics that have sparked interest."According to the crypto crowd, the #bullmarket has essentially come to an end after #Bitcoin's -16% market value drop since the #AllTimeHigh of $73,600 hit back on March 14th. At the same time, #bearmarket mentions are increasing," Santiment said.

 

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