Bitcoin Reserve Risk Indicator at All-Time Low – Social Media Sentiment at a High
As the crypto winter continues to linger, the Bitcoin Reserve Risk indicator has declined to an all-time low. The Reserve Risk index is an indicator of longer-term holder confidence in the price of Bitcoin.
With the confidence of long-term holders at its lowest ever level, market analysts have reported that long-term holders are selling their Bitcoin at up to 35% lower price points than their break-even.
While the long-term holder confidence is at its lowest, data tracker, Santiment has revealed that the optimism among social media users is at its highest point.
According to Santiment Feed, social media users are expressing positivity about Bitcoin going into the week, and even the remainder of July. Santiment highlighted that an “ideal setup would be the crowd remaining skeptical as prices climb with little resistance.”
Flipsider:
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