Main navigation

BTC, ETH, BNB, ADA, SOL Face Extreme Bearishness: Report

News
Sat, 01/08/2022 - 10:04
article image
Yuri Molchan
Recently published analytics report shows that some of the top ten cryptocurrencies are facing strong bearish sentiment and FUD
BTC, ETH, BNB, ADA, SOL Face Extreme Bearishness: Report
Cover image via stock.adobe.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

According to the analytics data provider Santiment, recent crowd sentiment shows that prices of the top six cryptocurrencies, among which are Bitcoin, Ethereum, BNB, as well as trendy SOL and ADA, are facing a large amount of FUD (fear, uncertainty, doubt) and bearishness at the moment.

All these top cryptocurrencies have experienced significant losses, following the recent Bitcoin's drop by over eight percent from the $46,500 level to the $42,000 area. Ethereum followed BTC, going below $3,200.

As of this writing, the flagship crypto is changing hands at $41,983, Ethereum is sitting at $3,230. After the $569 high reached by BNB on December 27, now this coin is trading at $457. SOL reached $203 on December 27 but by now have declined over fifty percent to the $146 mark.

As for Cardano’s ADA, it started 2022 rising to $1.380 from $1.287 low on December 31. The highest price in January so far for ADA has been $1.384 on Jan 2. By now, the coin has dropped to 1.248, losing almost eight percent from $1,349 reached on January 5.

Related
Spanish Lawmaker Proposes Turning Spain Into Bitcoin Mining Hub

Meanwhile, Bitcoin Fear and Greed Index shows 10, indicating “extreme fear” in the crypto market. According to the popular Chinese crypto journalist Colin Wu, this is the lowest since July 21 last year.

However, many consider this to be a good opportunity to buy the dip.

U.Today reminds the crypto community that they should do their own research in the crypto space. Crypto prices can show extreme volatility, so one must not spend on them more than one can afford to lose.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.