Over the past seven days, the most popular words on social media with cryptocurrency have been “drop”, “buy” and “feed”. In addition, the word “sell” dropped out of the top ten list last night, despite a sharp rise on Tuesday.

According to the crypto market data aggregator Santiment, users of social media from Meta to Telegram and Twitter have formed a chorus, all singing from the same hymn sheet. “Fall” and “buy” are one of the three most common words, while “Fed” or Federal Reserve comes in at number six.

Santiment, a behavioral analysis and monitoring platform, highlights the number of words in encrypted social networks that can indicate general mood. It works in the same way as the Fear and Greed Index, which currently shows 18 – Intense Fear.

Contrary to the index and some traders’ concerns about the price of $ 30,000 per Bitcoin (BTC), consumer sentiment on social media remains strong. This is only a third of the 1,875 points that rose on December 4, 2021, when the price of BTC fell to $ 42,000.

The Federal Reserve is at the top of the list due to discussions about a possible interest rate increase in 2022. Bitcoin bull Vijay Boyapati is confused. In a tweet on Wednesday, he noted that Bitcoin will rise exponentially when “the Federal Reserve loses control of the bursting bubble it has inflated over the past decade.”

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It is strange that on January 4, there was a peak in the activity of “sellers”. The call to sell three days ago was as strong as those who reprimanded investors to buy on November 29, 2021 at 4,828 sentiment points. However, it seemed that the upside was in full swing.

Overall, cryptocurrency sentiment looks bullish as the current market movement is only a retreat. However, the “Bear” theme has risen from number ten last night to number eight this morning.

When the BTC price drops to $ 41,000, volatility may increase.

Source: CoinTelegraph