Crypto Market Sentiment Dips, Bitcoin and Ethereum Break Positive Again

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Source: iStock / Easyturn

After a slight and short-lived improvement, market sentiment fell again over the past week. The 7-day average mobile crypto market sentiment score (sentscore) for top ten crypto assets is 5.06 today, down from a week ago it was 5.16 , according to the Omenics Market Sentiment Analysis Service. In particular, there are no more coins in the positive zone among the first 10 coins, and only one among all the noted coins.

Unlike a week ago, when all but one of the coins were green, this week all but two are red. The two winners are the USD Coin (USDC), which is up 18%, and the Chain Link (LINK), whose starting score has increased by 5%.

Among the red coins, the biggest drop was almost 20%, recorded by XRP. Another double-digit drop is the 14% tether (USDT) rate. Ethereum (ETH), bitcoin (BTC), crypto.com coin (CRO), binance coin (BNB), and cardano (ADA) – all have seen their respective ratings drop between 9% and 7%. Finally, the polkadot (DOT) fell by less than 1%.

The decline in overall market sentiment is also reflected in the number of coins in the positive zone – there are none this week. The declines in BTC and ETH send scores both pushed below the score of 6. The list is now headed by bitcoin at 5.9, followed by USDC at 5.8, then by the 5.7 from Ethereum. Also, only one other coin has a score over 5, which is DOT with 5.5. The rest have send scores between 4.1 and 4.9.

Change of feeling among the first 10 pieces *: Interpretation of the score scale: – 0 to 2.5: very negative – 2 to 3.9: rather negative zone – 4 to 5.9: neutral zone – 6 to 7 , 49: rather positive zone – 7.5 to 10: very positive zone.

Source: Omenics, 11:01 UTC

The 24-hour sent score for those same 10 pieces also declined. The average score of the past day was 4.76, against 5.72 recorded last Monday. That said, only four coin send scores are down, and in relatively low percentages: ETH, DOT, BTC, and XRP have fallen between 2.5% and 1.6%. On the other side is the largest increase of 5.5%, seen by LINK, while the others rose between 5.2 (USDT) and 0.8% (ADA). There’s one piece in the positive zone here, and it’s USDC with a score of 6.2. Bitcoin fell to 5, and Ethereum fell even lower, to 4.9. DOT and LINK scored 5 and 5.6, respectively, while others have scores between 4.2 (USDT) and 4.4 (ADA). XRP, however, is now in the negative zone, with a score of 3.7.

Now looking at the 25 coins outside of the top 10 list, we see that only 10 of the 25 have increased in the past week. The highest of these is 0x (ZRX) with 10%, while the lowest is the tron ​​(TRX) of 0.2%. As for the declines, the head is taken here by the maker (MKR) and its decrease of 13%. The least to fall is the nem (XEM) with 0.3%. Unlike the top 10 list, this one has a coin in the positive zone – cosmos (ATOM) with 6.3, making it the only coin among the 35 coins rated by Omenics. Nine others are in the 5-5.8 range, twelve have send scores between 4.4 and 4.9, while three are in the negative zone: XEM and QTUM with 3.9 and OMG with 3, 8.

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* – Methodology :

Omenics measures market sentiment by calculating sentscore, which aggregates sentiment from news, social media, technical analysis, viral trends, and coin fundamentals based on their proprietary algorithms. media publications in an all-in-one data platform, where you can also analyze the sentiment of the content, “adding later,” Omenics combines the 2 sentiment indicators of social media and media with 3 additional verticals for technical analysis, coin fundamentals and buzz, resulting in sentscore which reports a broad outlook for each coin. “At the moment, they are evaluating 35 cryptoassets.

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