BTC, ETH and XRP Fear Hits 'Boiling Point' as Rally Hopes Rise - Bitcoin News
Santiment reported bearish social sentiment across bitcoin, ethereum and XRP as cryptocurrency prices faced renewed pressure.
Santiment, a crypto analytics firm that tracks online market discussion, shared its bitcoin, ethereum and XRP sentiment readings on X on Nov. 10, opening with: “Retail fear is reaching a boiling point as crypto tests major lows!” It added: “Bitcoin, Ethereum, and XRP sentiment has fallen deep into bearish territory according to our X, Reddit, Telegram and other social platform data.”
The firm interpreted that pessimism as a potential contrarian signal, meaning one that runs against prevailing expectations. It explained: “Major cryptocurrency market rallies rarely begin when everyone expects one. They usually form while traders are fearful, selling losses, and doubting that prices can bounce at all.”
The analytics firm’s data showed that XRP logged 49 bullish comments for every 100 bearish ones. Bitcoin and ethereum also registered sentiment ratios below 1.0, with bitcoin recording 0.82 bullish comments per bearish one, compared with 0.88 for ethereum.
As of this writing, bitcoin was trading at $74,032, up 0.42% over the preceding 24 hours. Ether traded at $2,056.62, gaining 0.33% over the same period. XRP changed hands at $1.05, a 0.33% decline.
Analysts See Buying Demand as Key to Recovery
Those moves followed bitcoin’s retreat below $74,000 on Nov. 10. Cryptocurrency market data provider Coinglass recorded approximately $356.16 million in crypto liquidations over the 24 hours ending around 8:45 a.m. Eastern time that day, with long positions absorbing $280.40 million.
A sustained recovery would depend in part on stronger demand from buyers purchasing bitcoin directly.
Their Nov. 10 assessment also identified $75,900 to $77,500 as a potential selling zone, where renewed supply could pressure prices. The analysts expected bitcoin to trade within an options-implied range of $72,350 to $79,400 ahead of the Nov. 13 options expiry, with activity concentrated toward the lower end.
XRP Fear Deepens as Ethereum Optimism Fades
Social discussion feeds into Santiment’s social sentiment calculations, which sum positive and negative sentiment scores. The ratio compares bullish comments with bearish ones, so 0.82 represents about 82 positive remarks for every 100 negative ones. Parity is an equal balance at 1.0, with lower readings indicating more pessimism than optimism.
On Oct. 1, XRP logged a bullish-to-bearish ratio of 0.67, which Santiment described as its weakest sentiment since Aug. 17. The ether ratio was 0.89 in that update. XRP’s latest reading of 0.49 reflected a more negative balance than that earlier reading.
By Oct. 13, ethereum optimism contrasted with bitcoin and XRP fear. Ethereum’s ratio reached 2.05, with bitcoin at 0.82 and XRP at 0.92. Compared with those readings, bitcoin’s Nov. 10 ratio was unchanged, while ethereum turned negative and XRP’s balance deteriorated.
Santiment projected: “If we continue to see bearish commentary outweigh bullish commentary, especially for top caps, prices will inevitably see a strong relief rally.”
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