Santiment, a cryptocurrency analytics platform, has issued a warning following a moderate altcoin rally over the last few days.
Santiment says A recent rise in positive terms on social media platforms could signal a bearish turn.
Santiment reports that FOMO and euphoria have both reached two-month highs, which is often a sign that a top has been reached. High levels of the opposite sentiment – fear, uncertainty and doubt (FUD) – usually signal the reaching of a bottom, per Santiment.
“This week’s modest crypto rally, particularly for altcoins, has led to a spike in social media mentions of terms like ‘buy’, ‘buying’, ‘bottom’, and ‘bullish’.
Historically, these positive terms are signs of euphoria & FOMO. Tread carefully at this spot.”
Altcoins have surged since Sunday, including Solana (SOL), up 43% from $9.83 – $14.07 at the time of writing. The decentralized autonomous organization (DAO), Lido DAO (LDO), is up 49% from $0.951 – $1.42
Santiment is available on Ethereum (ETH). says While the market cap for crypto assets has moved down slightly, interest in whales has risen to a record three-week high.
“As altcoins have heated up, Ethereum quietly rebounded back above $1,260 for the first time in 3 weeks. Though not quite at the level of the big whale dip buys on December 16th (ETH’s local price bottom), whales are showing increased interest again.”
Ethereum traded at $1,250 as of this writing, having fallen to $1,168 at the local level on December 16th.
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