Latest news with #BrianQuinlivan
Yahoo
3 days ago
- Business
- Yahoo
Bitcoin Hits 43% Social Media Dominance -- Santiment Says It May Signal a Buying Opportunity
Bitcoin (BTC-USD) is once again dominating the conversation and this time, that may be more of a warning than a cheer. According to analytics firm Santiment, more than 43% of all crypto-related social media talk this week centered around Bitcoin as it reached an all-time high of $123,100. Warning! GuruFocus has detected 9 Warning Signs with MSTR. That kind of surge in attention, Santiment analyst Brian Quinlivan says, usually reflects rising retail FOMO and historically, that's when Bitcoin has tended to cool off. We've seen this before, Quinlivan wrote. Big spikes in social dominance often coincide with local tops. Wait for the euphoria to settle, and that's usually your next key entry point. Indeed, Bitcoin has already pulled back slightly, now trading around $117,000. The same pattern played out earlier this summer on June 11 and July 7, when spikes in social chatter preceded dips. Still, not everyone's convinced a pullback is imminent. CryptoQuant's Axel Adler Jr said Wednesday that the market hasn't flashed its usual peak signals. And Galaxy Digital's Michael Harvey thinks Bitcoin could simply be taking a breather before another leg higher. This article first appeared on GuruFocus.
Yahoo
7 days ago
- Business
- Yahoo
Bitcoin Hits 43% Social Media Dominance -- Santiment Says It May Signal a Buying Opportunity
Bitcoin (BTC-USD) is once again dominating the conversation and this time, that may be more of a warning than a cheer. According to analytics firm Santiment, more than 43% of all crypto-related social media talk this week centered around Bitcoin as it reached an all-time high of $123,100. Warning! GuruFocus has detected 9 Warning Signs with MSTR. That kind of surge in attention, Santiment analyst Brian Quinlivan says, usually reflects rising retail FOMO and historically, that's when Bitcoin has tended to cool off. We've seen this before, Quinlivan wrote. Big spikes in social dominance often coincide with local tops. Wait for the euphoria to settle, and that's usually your next key entry point. Indeed, Bitcoin has already pulled back slightly, now trading around $117,000. The same pattern played out earlier this summer on June 11 and July 7, when spikes in social chatter preceded dips. Still, not everyone's convinced a pullback is imminent. CryptoQuant's Axel Adler Jr said Wednesday that the market hasn't flashed its usual peak signals. And Galaxy Digital's Michael Harvey thinks Bitcoin could simply be taking a breather before another leg higher. This article first appeared on GuruFocus.
