# Crypto: Bitcoin Flashing Signs of Big Bounce as Sentiment Turns Bearish

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Last modified: 2022-05-11

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By Paul Ebeling · 2022-05-11
Tags: Shayne Heffernan on Investments, Luxury, investors, traders, Lifestyle, sentiment, volatility, Paul Ebeling, Bitcoin, Ferrari, Crypto, Education, crypto, ether, Bitcoin, Ethereum, Knightsbridge Insights, Living, Knightsbridge, DeFI
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#crypto #bitcoin #ether #sentiment #traders #investors 

$BTCUSD $ETHUSD

*"Crypto market-intelligence platform Santiment says that a gloomy sentiment reaction to Bitcoin falling below $30,000 to start the wk is necessary for a rebound*" -- Paul Ebeling

Santiment says that the purging of traders and investors who exit the market at the 1st sign of plummeting prices usually leads to a “*truly notable bounce*” after.

*“With Bitcoin now having retraced all the way down to $33,900, trader sentiment has fallen to six week lows. We typically prefer to see capitulation signs like this, as weak hands leaving the space is generally what is needed for a truly notable bounce.”*

Bitcoin is trading for $30,439.03 at time of writing.

In the case of Ethereum, the cryptocurrency market-intelligence platform says that a sign of a bottom is close came on Friday when the ratio of profitable to losing transactions plunged to a 42-month low.

*“On the Ethereum network, there were about 3.4 times as many transactions taken while coins were at a loss compared to in profit, on Friday. This was the highest day, in terms of ETH’s capitulation trading ratio since Nov 18, 2018, or 3.5 years ago.”*

Ethereum is trading for $2,287.11at time of writing, down nearly 7% in the past day.

Santiment also looks at Chainlink (LINK), a decentralized network that provides off-chain data to the smart contracts of various blockchains.

According to the crypto market intelligence platform, the native token of the blockchain oracle is witnessing whale accumulation amid a fall in price to levels last recorded in September of 2020.

*“For the first time in 18 months, Chainlink has dipped below $10 as crypto markets finish out another week of price corrections. That said, key stakeholder addresses appear to be staying in accumulation mode for the past 4-6 weeks.”*

Market volatility is what can give you stellar returns.

[For live price action click here](http://crypto.livetradingnews.com/en)

Have a prosperous day, Keep the Faith!

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