Coin Edition -
- Bitcoin experienced a minor decline during the weekend.
- However, there has been a reversal in bearish sentiments
- Price volatility remains unlikely in the short term.
The cryptocurrency market managed a comeback on Monday, following a weekend of bearish sentiment and selling pressure.
After a week of declining prices and increasingly negative social activity, Bitcoin (BTC) reversed course, surging back above $43,000 at the time of writing.
In a recent post on X (formerly Twitter), on-chain data provider Santiment noted that the bullish reversal in BTC’s performance mirrors a well-known pattern in the market when smaller traders exit the market out of fear. Larger investors often see an opportunity to buy, propelling prices back up.
According to the analytics firm, this dynamic appears to be playing out again, as the negativity surrounding BTC last week has been replaced by a renewed sense of optimism.