14 hour ago
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Bitcoin Social Dominance Hits 4-Month High Amid Market Crash
Recent data indicates that Bitcoin Social Dominance has surged to a 4-month high, often seen as a market reversal signal.
Key Points:
- Social media discussions are increasingly focused on Bitcoin, with its Social Dominance reaching 36.4% of all crypto-related talks during a recent price crash.
- This marks the highest point since July 13th, when it hit 37.6%, coinciding with a previous market top.
- Historically, high Social Dominance can indicate a reversal, as market movements often counteract prevailing social media sentiment.
- The Fear & Greed Index for Bitcoin fell to 10, indicating extreme fear, a level not seen since February and reminiscent of the 2022 bear market lows.
Current BTC Price:
Bitcoin is currently trading at $95,300, experiencing a decline of over 10% in the past week.
