Santiment Announces: Interest in Bitcoin Increases

Santiment has released a new report that will interest those who stake Ethereum (ETH) as cryptocurrency interest shifts to Bitcoin (BTC). Santiment noted that the outlook for ETH stakers has deteriorated as recent gains have withdrawn and long-term stakers have dropped by more than 30% on average. The analytical company made the following statements in its statements:

“Ethereum 2.0 shareholders have seen realized values have completely decreased over the past 10 weeks. Also, the number of long-term stakers has now dropped by an average of 31%.”

Analytical firm Santiment has announced that interest in Bitcoin, the leading cryptocurrency based on the social dominance indicator, has reached its highest level since September, with altcoin gains drastically withdrawing in 2023. The top cryptocurrency by market cap now outperforms many altcoins, according to Santiment. The company made the following statements in its statements on the subject:

“The price of Bitcoin fell by about 6% in March. However, Bitcoin still outperforms most altcoins. Investor attention turned to BTC as crypto markets gave up most of their January/February 2023 gains. Higher Bitcoin social dominance, historically, it can initiate a market recovery.”

On the other hand, Santiment argued that investors are showing skepticism about the outlook for top cryptocurrencies. In addition, the analytics firm stated that price jumps are expected during periods of fear, uncertainty and doubt (FUD), and made the following statements on the subject:

“Investors and hodlers of top assets are being skeptical following the Feb. 21 peak and the markets failing to rally. As the FUD settles, according to our metrics, prices are more likely to bounce during this period of insecurity.”

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