Investors are starting to believe that a bear market is coming for cryptocurrencies. But this could actually be a bullish sign.
According to data from the blockchain analysis platform Santiment, shares about cryptocurrencies on social media are beginning to be mostly bear market weighted.
Santiment focuses on platforms such as Telegram, Reddit, X, and 4Chan while tracking these shares.
According to this data, shares containing terms such as “bull market” or “bull cycle” have decreased since the end of March, while shares containing terms such as “bear market” or “bear cycle” have started to increase.
The Santiment team made a statement about this, saying, “Prices have historically moved in the opposite direction of the general expectations of the investor community.” They added:
“According to the crypto community, after Bitcoin broke an all-time high of $73,600 on March 14 and then dropped by 16%, the end of the bull market has come. At the same time, there is now more talk about a bear market as well.“
