The cryptocurrency market recently witnessed a major sell-off as Jim Cramer, host of CNBC Mad Money, took to Twitter to say "Getting near being oversold!". This comment caught the attention of the crypto community and created a discussion on Twitter, Discord, Telegram and Reddit. Statistics show that long positions worth $237 million were liquidated across exchanges due to the unexpected dip. Bitcoin, Ethereum, Solana and Avalanche were all affected, but Ethereum managed to lessen the losses and only had a 7% downfall.

The crypto world went into a state of confusion as the decrease in crowd's interest was at odds with the rising prices. Social metrics and funding rates took the center stage and were analyzed to decide the course of action. Santiment released a blog post stating that there were fewer people participating in the discussions compared to January 2020. This could mean that the crowd was not sure of their next move.

We can also see that there is a sentiment of disbelief towards the increasing prices, as the fall in crowd interest makes it clear. With the highly anticipated Bitcoin halving just a year away, the activity in Q2 will be determined by the behavior of social metrics and the funding rates. Everyone is keeping an eye out to decide which way the crypto market will go.



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