Bullish crypto sentiment drops with the marketwide plunge
After a short-term bullish moment at the start of October, the crypto market has turned red again. The Israel-Palestine war might be one of the reasons for the bearish sentiment . According to the data provided by Santiment, the “bullish” trend plunged by 93% over the past 24 hours. BTC price and bullish social volume – Oct. 10 | Source: Santiment The downward momentum comes as investors turn from altcoins to Bitcoin (BTC). According to CoinMarketCap (CMC) data, BTC’s market dominance has reached a three-month high of 50.2%. You might also like: Prosecutors push to silence SBF on FTX’s Anthropic investment While the flagship crypto ’s dominance hiked, its price dropped by 0.65% over the past day. Bitcoin is trading at $27,665 with a $539.8 billion market capitalization at the time of writing. The asset’s 24-hour trading volume rose by 60%, reaching $12.1 billion. This investor behavior indicates a sudden shift from altcoins to BTC as the conflict grows...