Santiment Reports Renewed Surge in Cryptocurrency Market
According to Santiment, the cryptocurrency market is experiencing a renewed surge despite recent fluctuations. This challenges the earlier bearish sentiment that emerged during the recent downturn.
Back on the Uptrend
Santiment’s post reveals that bullish sentiment became high as airdrop news came in, resulting in a fear of missing out. However, this was followed by bearish sentiment as markets corrected, leading to crowd selling at the top.
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Now, with markets back on the uptrend, CoinMarketCap reports that altcoins like Osmosis (OSMO), KuCoin Token (KCS), and Cosmos (ATOM) are rallying and experiencing double-digit gains on Dec. 12.
Surprise Decline
The unexpected shift occurred on Dec. 11, surprising investors who believed the ongoing bull run would continue without interruption. This sudden downturn interrupted eight consecutive weeks of bullish trends and caused the total crypto market cap to sharply decline from $1.64 trillion to slightly under $1.56 trillion within 24 hours. However, the market has since seen a return to positive growth.
Hot Take: Cryptocurrency Market Bounces Back with a Renewed Surge
Despite recent fluctuations and an unexpected decline, the cryptocurrency market has bounced back with a renewed surge. Santiment’s report highlights the shift from bearish to bullish sentiment, driven by airdrop news and fear of missing out. Altcoins like Osmosis, KuCoin Token, and Cosmos have been leading the rally with significant gains.
