“Buy The Dip” Mentions Soars To 8-Month High Amid Crypto Crash
The number of “buy the dip” mentions on social media platforms has reached its highest level since April after the crypto market cap plunged 6% and meme coins shed more than 9% of their value in the last 24 hours. “With Bitcoin falling as low as $95.5K today, the ratio of crypto discussions that are about buying crypto’s dip has reached its highest level in over 8 months,” said the on-chain analytics firm Santiment in a Dec. 19 X post . “The last time we saw the crowd nearly this enthusiastic about dip buying was the major crash on August 4th. Since that time, Bitcoin’s market cap is +81% higher.” Bitcoin Drags Crypto Market Down After Falling Below $100K Crypto market leader Bitcoin (BTC) dropped below $100K in the last 24 hours, and has since been unable to recover. As of 1:34 a.m. EST, the largest crypto by market cap trades at $96,490.59, which marks a more than 4% price decrease compared to the day before. The pull back in BTC...