Santiment: Discussions about "altcoin season" on social media have dropped to extremely low levels, and historical data shows this usually signals an upcoming rebound.
BlockBeats News, on March 4, the crypto market analysis firm Santiment posted on social media stating that the current discussion about "altcoin season" on social media has dropped to a freezing point. However, historical experience shows that when market interest in altcoins falls to extremely low levels, it is often the eve of a rebound.
The chart shows the weekly mentions of "altcoin season" and the relationship with the price of speculative asset DOGE. "Altcoin season" is usually accompanied by FOMO sentiment and greed towards DOGE, Meme coins, or highly volatile small and mid-cap altcoins.
When the discussion about "altcoin season" is at its peak, it often corresponds to the market top; while when the topic is ignored, large funds usually start to quietly push up the price.
Santiment added that this is by no means a perfect trading signal, and market indifference towards altcoins does not necessarily mean an imminent explosion. But it is worth noting that the historical performance of this contrarian indicator is quite remarkable.
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.
You may also like
Subscription multiplier reaches 4 times! "AI Ring" Oura IPO receives enthusiastic response
Smart ring manufacturer Oura's IPO was oversubscribed by approximately four times, planning to issue 50 million shares at a maximum price of $44 per share, aiming to raise up to $2.2 billions, with a fully diluted valuation of about $15 billions. Against the backdrop of companies like Holtec Nuclear withdrawing their IPO plans due to market conditions, Oura is expected to become the first major IPO in nearly three months to raise over $1 billion, injecting new vitality into the long-dormant U.S. IPO market.
The Bank of Japan's interest rate hike still fails to impress the market! Hedge funds slash yen long positions by nearly 80%, while dollar long positions increase significantly
After the Bank of Japan failed to deliver a clear enough signal of further interest rate hikes to the market, hedge funds have significantly reduced their bullish bets on the yen.
US Treasury yields continue to rise! Cleveland Federal Reserve President: Government and AI compete for funds, fueling rate hike expectations
Cleveland Federal Reserve President Loretta Mester stated on Friday that the recent sustained rise in long-term U.S. Treasury yields is the result of multiple factors working together.
Crypto prices
More
