Trader Sentiment Toward Top Cryptos Is Overwhelmingly Negative

• Traders and hodlers of some of the top cap assets are showing signs of skepticism.
• Santiment revealed that the probability of price bounces actually increases in times of doubt.
• BTC is currently trading hands at $22,434.09 after a 0.15% increase in price.

The well known market intelligence platform Santiment shared a Twitter post this morning, containing some interesting insights about the current sentiment in the crypto market, and the effect this will have.

According to the post, Santiment has noticed that traders and hodlers of some of the top cap assets are showing signs of skepticism after the crypto market failed to rally after following the February 21 peak.

The intelligence platform reassures people that the increase in FUD is not necessarily a bad sign as their metrics indicate that the probability of price bounces actually increases in times of doubt or disbelief. This is certainly something that traders should take note of.

Data from the crypto market tracking website CoinMarketCap indicates that the global crypto market is currently up by 0.40% and stands at $1.03 trillion. Bitcoin’s dominance is currently 42.26%, which is a decrease of 0.08% over the last day.

It is during times of uncertainty that is being experienced now that many people turn to the crypto market leader, Bitcoin (BTC), to get a better idea about the market conditions. BTC is currently trading hands at $22,434.09 after a 0.15% increase in price over the last 24 hours. BTC also reached a high of $22,584.29 and a low of $22,356.62 over the same time period.

On the other hand,the crypto king is still down by more than 3% over the last week. Its 24 hour trading volume is in the green zone and now stands at $15,672,802,596 after a more than 13% increase since yesterday.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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