Cryptocurrency analysis company Santiment analysts shared their new analysis after the recent declines in the crypto market.
According to Santiment analysts, with the start of the weekend, sentiment in large market value crypto assets reached overly optimistic levels, and this became evident with ETF approvals.
According to analysts, traders are showing bullish tendencies, especially against Ethereum, which exceeded the $ 2,700 level for the first time since May 2022.
Santiment analysts also believe that there is a distinct bullish trend towards Bitcoin and XRP. Traders have this optimistic sentiment due to the possibility of an ETF approval for Ethereum or XRP. However, Santiment analysts think Cardano has been overlooked with the normal level of trader optimism regarding this ETF.
According to analysts’ data, the sensitivity and mention rate have reached their highest level for Ethereum since November 2021, for Bitcoin since March 2023, and for XRP since May 2023.
Despite this, analysts think the FOMO atmosphere still needs to cool down a bit.
*This is not investment advice.
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