According to BlockBeats, data from the tracking platform Santiment indicates a significant increase in mentions of 'buying the dip' on social media, reaching the highest level in nearly a month. This trend is typically seen as a sign of bullish sentiment among retail investors. Santiment monitors these mentions by analyzing keyword frequencies on platforms such as Reddit, Telegram, and X (formerly Twitter).
Santiment's market analysis report suggests that this surge in mentions serves as a contrarian indicator, implying that the current Bitcoin (BTC) pullback might intensify. The report highlights that price movements often contradict public expectations. If retail investors perceive $112,200 as a buying opportunity, the market may face further challenges. The true opportunity for buying the dip, according to Santiment, arises when the public ceases to be optimistic and begins to sell off their holdings.
