Bitcoin's recent price slump has raised speculation about the future of the cryptocurrency. Market analytics firm Santiment has identified on-chain indicators that suggest there may be more turbulent times ahead in the market, due to macroeconomic and global concerns. However, the firm notes positive signs such as whale re-accumulation of BTC and increasing fear, uncertainty, and doubt (FUD). Despite this, the amount of BTC moving to exchanges is a cause for concern, as it often indicates selling. Santiment advises short-term traders to focus on the level of FOMO and FUD demonstrated on social media. The firm also highlights that mentions of lower price predictions are currently higher than higher price predictions, which they see as a good sign. The market is not yet in historically negative zones, and the firm expects more pain before a potential recovery.



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