Bitcoin Bottom In Sight? Sentiment Shifts as Price Slides Toward $60,000

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This has largely led to a buy-the-dip sentiment among crypto traders, with many believing the correction would end as soon as it ended and Bitcoin would surge again to new all-time highs.  Related Reading: Unlocking The Dogecoin Code: One Factor Holds The Key To Its Next Ascent According to crypto analytics platform Santiment, the thrill of scooping up ‘cheap’ Bitcoin appears to be fading as the consolidation drags on around the $60,000 price mark.

Although Bitcoin might have formed its bottom, this lull action could continue into the next few months until the crunching supply of the halving gets factored into its price.  Related Reading: Jeo Boden’ Meme Coin Soars 20% After Trump Diss – Details Remarkably, some new whale addresses are silently accumulating Bitcoins.

As Santiment noted, this fading buy-the-dip mentality could actually be a signal that Bitcoin is nearing a bottom, according to price history.  Is The Bitcoin Bottom In?

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Bitcoin Btcusd Price analysis Btc Crypto Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-12 @ 12:30:40 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 481 words

Reading Time: 3 minutes read

Sentences: 47 lines

Sentence Length: 11 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 20945823

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