Fantom (FTM) Flashing Bullish Signal Amid Epic Rally Close to All-Time High: Crypto Insights Firm Santiment

Ethereum rival Phantom (FTM) continues to show a bullish sign on the chain as it approaches record levels, according to crypto intelligence firm Santimento.

Santiment states that it is closely monitoring the funding rate of Binance crypto exchange Fantom. This may indicate that the highly scalable blockchain for the enterprise is ready to move forward on the right track.

The specter returned in late October and is approaching a record high of $3.47. A sign to watch carefully is the price of FTM funding on exchanges like Binance. When it becomes passive, many shorts appear. Prices tend to skyrocket. “

source: Santiment / Twitter

For Bitcoin (BTC), Santiment focuses on social trends that have historically shown the reversal of the best crypto assets by market cap.

According to crypto insights, when the price of Bitcoin bottomed in July and finally doubled in price, the terms “inflation” and “supply” spread on social media platforms. ..

“The sudden surge in interest for both #inflation and #fed is noteworthy. Likewise, these words soared about Bitcoin’s last major bottom in July 2021. Traditionally in crypto. The concept of hedging from the market seems to be more accepted by the week.”

modal photography
Source: Santiment
modal photography
Source: Santiment

Similarly, Santiment stated that prices usually continue to fall as mention of “buy on dip” spread across social media. Conversely, when the mention of “buy on dip” disappears, prices actually tend to go up.

According to the company, the excitement of “buying dips” has waned, and dip-buying has become less and less. This could be a bullish catalyst for bitcoin now that the crowd has given up.

“When it comes to #buyingthedip, it is important to note how excited the trading audience is to do so. Normally, if a trader uniformly believes that the price is about to bounce, then that is the price. It is not time to actually bounce back.”

source: Santiment / Twitter

Check price action

Don’t miss out – sign up and send encrypted email alerts straight to your inbox

Follow me TwitterAnd Facebook and Telegram

Browse the daily mix

& nbsp

Check out the latest news headlines

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors need to do their due diligence before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfer and transactions are your own responsibility and any loss you may incur is your responsibility. Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets. Also, Daily Hoddle is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Featured Images: Shutterstock / klyaksun / Natalia Siiatovskaia

Leave a Comment