Bitcoin is dipping, but investors aren’t rushing to buy the dip.
According to Santiment, a leading crypto analytics firm, the recent Bitcoin price drop hasn’t sparked the same level of buying enthusiasm seen in previous dips.
“Even though Bitcoin is down a bit, it’s not like the dip we saw in July,” Santiment said on X (formerly Twitter). “People aren’t jumping in to buy yet. They’re watching closely to see if Bitcoin drops below $60,000 or if Ethereum goes below $2,900. Those might be the levels that get investors buying again.”
A Potential Bounce Is on the Horizon
Despite the recent downturn, Santiment believes that a rebound could be in the works.
“Crypto prices have taken a hit across the board,” they said. “But history shows that when we see low trading activity for top cryptocurrencies like Bitcoin, Ethereum, Cardano, XRP, Dogecoin, and Chainlink, a bounce is more likely.”
XRP is Shining Bright
While Bitcoin and Ethereum are struggling, XRP is doing well.
“XRP had a great July,” Santiment said. “There were a lot of big transactions and new wallets being created. This helped XRP rise by 35% last month, and it’s still doing well even though it’s dipped a bit recently.”
Disclaimer: This information is for educational purposes only and should not be considered investment advice.
/p>
