The 2022 bear market does not appear to have waned as the sentiments do not appear to be in the favour of bulls. Despite a bullish start for the year 2023, the tokens are still expected to drop significantly to reach the lowest point that may mark the bottom of the current bear market. Until then, the markets are feared to intensify the euphoric sentiments where-in the FOMO (Fear of Missing out) could reach highs.
A popular analytical firm Santiment has signaled the possibility of a bearish trend referring to the intensifying euphoric & FOMO market sentiments.
As per the platform, the social mentions for the altcoins in terms of buy, buying bottom & bullish have intensified. Historically, these are the signs of the market advancing towards euphoric sentiments and FOMO is likely to haunt the investors. This may further lead to a dramatic pullback where-in the prices may meet their bottoms very soon!
This may be the reason the market participants, specifically the whales have been transferring millions of funds in form of cryptos. These whales have moved more than $670 million in Bitcoin, Ethereum, XRP, Polygon, and Curve, among which BTC alone accounts for $315 million.
The whale moved nearly 25,000 BTC in 2 separate transactions of 9,251 & 15,477 BTC from one unknown wallet to another. Further, nearly 32,236 ETH were relocated from an unknown wallet to Coinbase while XRP Polygon(MATIC) and Curve (CRV) also witnessed a transfer of 38.89 million XRP, 90.56 million MATIC, and 17 million CRV.
While these indicators do flash for a bearish reversal approaching very fast, many other signals do flash bullish signals in the longer time frame. As many analysts have predicted that the 2022 bear market could reach its end by the end of Q1 2023, Q2 may be consolidated while H2 2023 may witness a decent recovery phase.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Bitcoin has reached a new all-time high of $125,800 before starting to cool down. The…
On Monday, the crypto market experienced heightened demand from speculative investors. Bitcoin (BTC) price rallied…
Chainlink (LINK) price is gaining momentum as Bitcoin’s surge to a new all-time high fuels…
The global cryptocurrency market is climbing once again, with total market capitalization rising 2.23% to…
The idea of XRP reaching $100 might sound far-fetched, but behind the bold prediction lies…
As the calendar turns to October, a month often associated with bullish market reversals, investors…
