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CryptoIntelligence 2024-06-30 04:58:00

Declining Bullish Sentiment Suggests Potential Bitcoin Market Bottom Amid Post-Halving Consolidation

Declining Bullish Sentiment Suggests Potential Bitcoin Market Bottom Amid Post-Halving Consolidation

The recent bearish market turmoil has dampened the previously high levels of bullish remarks and euphoria surrounding Bitcoin’s price, potentially indicating a market bottom. Data from crypto analytics firm Santiment shows that bullish Bitcoin remarks across social media platforms like X, Reddit, Telegram, 4Chan, and BitcoinTalk have significantly declined over the past few weeks. BTC’s price has been trading sideways since the Bitcoin halving in April. Santiment data indicates that trader sentiment was most bullish at the beginning of April, leading up to the Bitcoin halving. However, over the past three months, optimism has gradually waned as traders have lost

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