Retail sentiment around some of the top crypto assets has taken a sharp bearish turn as the market tests major lows, according to Santiment.
Data from social platforms shows Bitcoin recording 0.82 bullish comments for every bearish one, while Ethereum stands at 0.88. XRP looks even weaker, with the ratio falling to just 0.49.
Rebound Close?
But this widespread pessimism may not be entirely bad news. Santiment explained that extreme retail fear can create conditions for a market rebound, as major rallies often begin when traders are doubtful, and sentiment is heavily tilted toward the bears.
“If we continue to see bearish commentary outweigh bullish commentary, especially for top caps, prices will inevitably see a strong relief rally.”
Not everyone is convinced that the current weakness could lead to a recovery. Crypto Patel, for instance, has turned bearish on Bitcoin after the price broke below the $74,914 higher-timeframe (HTF) inducement level. According to the analyst, this breakdown confirms a bearish shift in the immediate market structure. He now sees the crypto asset potentially heading toward the $65,500-$62,500 range, where buyers could step in and absorb selling pressure.
Meanwhile, whales are taking different positions as the market downturn continues. Ali Martinez found that large holders of Bitcoin and Ethereum have been selling. But XRP whales appear to be moving in the opposite direction. As Bitcoin dropped from $79,000 to below $73,000 over the past week, large holders offloaded more than 34,000 BTC, worth roughly $2.6 billion.
Ethereum whales also reduced their holdings by around 17,800 ETH, worth approximately $40 million. XRP, however, saw an accumulation of 65.32 million tokens worth nearly $72 million over four days.
“The wallets I’m watching show distribution in BTC and ETH, while XRP whales are buying.”
Rough Days For ETFs
Crypto investment products for these assets are still struggling to attract money. Bitcoin ETFs saw another $95 million leave the market, adding to Monday’s $201.08 million outflow. Ethereum funds lost a smaller $1.32 million after seeing $184.51 million in withdrawals a day earlier. XRP ETFs also remained under pressure and lost $7.62 million on Tuesday.
November has been rough so far, with total outflows reaching $1.58 billion for Bitcoin, $551.10 million for Ethereum, and $18.57 million for XRP.
The post BTC, ETH, and XRP Face Extreme Fear, But Whales Are Sending Mixed Signals appeared first on CryptoPotato.
Crypto traders are becoming increasingly bearish, but history suggests that widespread fear can sometimes create opportunities for a market-wide recovery. AA News, Crypto News, Locals, social, Bitcoin (BTC) Price, Ethereum (ETH) Price, Ripple (XRP) Price
This articles is written by : Nermeen Nabil Khear Abdelmalak
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