Santiment said the increased use of “capitulation” among crypto users on social media could suggest the market bottom has already happened.
Retail investors are scrutinizing the crypto market for signs that it may have bottomed out to gauge when to buy more crypto assets, according to crypto sentiment platform Santiment.
“Retail traders are trying to meta-analyze the market, looking for signs of others quitting to time their own entries, which often happens near bottoms,” Santiment said in a report on Saturday.
Santiment has linked this to the word “capitulation,” which has become a top-trending crypto term on social media, according to the platform’s data.
