Crypto Traders Not Rushing to Accumulate Latest Bitcoin Correction: Santiment
According to analytics firm Santiment, crypto traders are not rushing to buy the latest Bitcoin correction, despite the drop in prices of large-cap crypto assets. The firm suggests that a relief rally may be around the corner, as history shows that low seven-day average trader returns for top caps like BTC, ETH, ADA, XRP, DOGE, and LINK increase bounce probabilities significantly. However, the same crowd enthusiasm for dip buying that was present in early July is not currently evident. Santiment also notes that the XRP Ledger payments network was one of the best performers in July, with high on-chain activity and a +35% month.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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