From Investing.com: 2024-07-09 14:30:25

Bitcoin sentiment on social media platforms is at a 12-month low, with a mix of bullish and bearish days. Santiment reveals a fear, uncertainty, and doubt narrative, resulting in a sentiment score of -0.962775. However, a rebound is expected soon, catching traders off guard. Spot Bitcoin ETF and price action are contributing factors.

The Bitcoin chatter slowdown is linked to spot Bitcoin ETF outlook and price fluctuations. At $57,490.48, Bitcoin is up 0.71% in 24 hours after a 8% drop. Ethereum spot ETF expectations could be diverting attention from BTC. The SEC is anticipated to approve the product soon, affecting Bitcoin’s spotlight.

Analysts and traders are eagerly awaiting the approval of the Ethereum spot ETF by the SEC, potentially impacting the current focus on Bitcoin. The sentiment for Bitcoin remains low based on data from Santiment, presenting a buying opportunity for traders anticipating a rebound in the market.

Read more at Investing.com: Bitcoin Sentiment in Worst State in 12 Months: Santiment By U.Today