Santiment Analysis Suggests Bitcoin Bottom May Not Be Reached

After Bitcoin's recent dip to $80,000 and rebound to $88,000, some voices in the crypto community consider it a market bottom. However, Santiment's analysis suggests that the real floor might not be reached yet due to weak on-chain activity and cautious market data.

Bitcoin fell to a low of $80,659 on Nov. 21 but climbed to $89,000 by Nov. 25.
Santiment warns that terms like "bull market" or "bottomed" are often misused based on perspectives and timeframes.
Historically, major market reversals occur when widespread pessimism is present, not optimism.
Bitcoin is trading at $87,700 with a global crypto market cap increase of 0.3% in the last 24 hours to $3.02 trillion.
Funding rates on crypto exchanges are above zero, indicating bullish expectations among traders.
On-chain activity and network growth are below previous peaks, with only 2.2 million new addresses per week compared to over 3.3 million.
Recent crypto liquidations reached $296 million, showing mixed sentiment, with $141 million in longs and $155 million in shorts.
Spot BTC ETFs in the US experienced a net outflow of $3.57 billion in November, reflecting bearish institutional sentiment.