Santiment, a market intelligence platform offering on-chain and social metrics for the cryptocurrency market, has reported a renewed surge in the midst of recent market fluctuations. This surge has challenged the previously established bearish sentiment, which emerged during the recent downturn.
On December 11, Santiment reported on X that bullish sentiment had reached its peak due to airdrop news and the fear of missing out on the bull run. This was then followed by bearish sentiment, leading to what the platform dubbed “crowd selling at the top”.
CoinMarketCap has reported that altcoins are continuing to rally, with Osmosis (OSMO), KuCoin Token (KCS) and Cosmos (ATOM) all recording double-digit gains on December 12. This turnaround came as a surprise to investors who had believed the ongoing bull run was unstoppable.
The sudden downturn on December 11 caused the total crypto market cap to drop from $1.64 trillion to slightly under $1.56 trillion within 24 hours. Fortunately, the market has since seen a return to the positives. Follow us on Google News to stay up to date on the latest developments.
