The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Is the Crypto Market Correction Good or Bad for Bitcoin and Ethereum? Santiment Analyzes the Price Dip

by Daily Hodl Staff
September 10, 2021
in Bitcoin, Ethereum

Crypto market intelligence platform Santiment says the impact of this week’s cryptocurrency market crash on Bitcoin (BTC) and Ethereum (ETH) could go either way.

The blockchain analytics firm says it has noticed both bullish and bearish signs.

“I’ve seen some TA analysts set $38k as strong support. On the flip side, I’ve also seen a flood of ‘buy the dip’ tweets in the hours after the drop. Looking at the on-chain and social activity of top caps, it’s looking like a ‘good news, bad news’ kind of situation for the time being.”

     

Santiment says Ethereum is moving from individual addresses to known exchange wallets, which points to potential sell pressure.                            

“Starting with network data, yesterday’s dump has left some signs of weak hand shakeout, which could be a positive sign for the bulls. 

Source: Sanbase

The firm says that Bitcoin’s network realized profit/loss (NPL) dropped to a two-month low, suggesting that BTC holders may be selling at a loss.

“We have seen similar ‘capitulation’ dips around several local bottoms for BTC during the May-June correction.”

Source: Sanbase

The average Ethereum fee rose to match its second-highest point ever. Santiment says fee spikes like this are a potential bottom indicators because they may be driven by panic sell-offs and “paper hand” capitulation, although NFT hype may also be contributing to surging ETH fees. 

Source: Sanbase

Social mentions of “buy” and “dip” together also soared amid the correction, which correlates to a more bullish bias among retail investors, according to Santiment.

Source: Sanbase

The firm says it sees an uptick in the average social sentiment towards Bitcoin and explains how that could affect the top crypto’s price.

Source: Sanbase

“On the whole, it seems like there’s a fair bit of post-dump excitement on the retail side, which could prove to be an issue in the short term. Just look at the previous spikes in ‘buy the dip’ calls and you’ll notice that they’ve often come early (like back in April and May, respectively), and tend to be accompanied by another leg down before the crowd is finally proven ‘right’.”

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong

Submit a Press Release

Industry Announcements

  • Whale.io Accelerating Towards TGE – Unveils ‘Wager and Earn’ Campaign and Launches WHALE Token Conversion
    May 14, 2025
  • Edgen Launches ‘AI Super App,’ Democratizing Institutional-Grade Crypto Market Intelligence
    May 14, 2025
  • BC.GAME Unveils New Logo, Strengthens Crypto Integration in iGaming Ecosystem
    May 14, 2025
  • Plutus Launches PLUS More on Base – A New Era of Tokenized Loyalty Rewards
    May 13, 2025
  • DoubleUp – A New Generation of GambleFi
    May 13, 2025
  • MoonX: BYDFi’s On-Chain Trading Engine – A Ticket From CEX to DEX
    May 13, 2025
  • Canelo Álvarez Joins 1Win As Global Ambassador After Historic Title Victory
    May 13, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$102,079.35
$102,079.35
1.13%
Ethereum
$2,554.43
$2,554.43
1.84%
BNB
$651.44
$651.44
0.24%
Solana
$172.03
$172.03
3.75%
XRP
$2.49
$2.49
3.67%

Spotlight

  • Bitcoin to $200,000? Investor Dan Tapiero Says One Catalyst Could Send Bitcoin Flying if US Economy Slows Hard
    May 8, 2025
  • Spyware Firm Ordered To Pay $167,250,000 in Damages for Enabling WhatsApp Hacks of 1,400 Smartphone Devices: Report
    May 8, 2025
  • Rich Dad Poor Dad Author Predicts Largest-Ever Market Crash, Says Bitcoin and Gold Will Protect Against Inflation
    May 8, 2025
  • Standard Chartered Analyst Backs Off Bitcoin Price Prediction, Now Calls $120,000 BTC ‘Too Low’: Report
    May 8, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl