September 27, 2022

Social indicators indicate a trend change in bitcoin

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Data from the analytical agency Santiment shows that over the weekend, the public was actively discussing the dynamics of the flagship cryptocurrency, when its quotes fell below the $18,000 area at the moment. Experts pointed out that tangible corrections in the market often correlate with high levels of social activity. The strengthening of bitcoin by almost 16% in two days indirectly confirms this thesis.

Well-known crypto analyst Ali Martinez posted a post on his Twitter: the ratio of long and short positions in BTC has decreased to 1.05 on the Binance crypto exchange. He also emphasized that about 49% of retail traders are holding sales against the backdrop of how the flagship cryptocurrency is steadily growing.

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