“Buy The Dip” Mentions Soar To 8-Month High Amid Crypto Crash
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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’s
price
comes
after
US
Federal
Reserve
Chair
Jerome
Powell
said
the
central
bank
will
maintain
a
cautious
stance
on
rate
cuts
in
2025.
He
also
said
that
the
Federal
Reserve
is
not
allowed
to
hold
BTC,
which
poses
a
challenge
to
President-elect
Donald
Trump’s
plans
to
create
a
strategic
Bitcoin
reserve.
Federal
Reserve
Chair
Jerome
Powell
says
the
Fed
is “not
allowed
to
own
Bitcoin”They
weren’t
allowed
to
own
Corporate
Bonds
before
Covid
either.Rules
change…
????
pic.twitter.com/3UBBUuKtdF—
Bitcoin
Archive
(@BTC_Archive)
December
18,
2024
Crypto
investor
sentiment
subsequently
took
a
knock,
with
the
market’s
overall
valuation
sliding
more
than
6%
in
the
past
24
hours.
Meme
Coins
Could
Be
The
Best
Opportunity
To
Buy
The
Dip
Meme
coins
were
among
the
biggest
24-hour
losers
in
the
market,
with
their
combined
capitalization
plunging
over
9%.
Dogecoin
(DOGE),
Shiba
Inu
(SHIB)
and
Pepe
(PEPE),
the
largest
meme
coins
by
market
cap,
all
saw
their
prices
plummet
more
than
10%
in
the
last
24
hours.
Sudeng
(HIPPO)
suffered
the
biggest
24-hour
loss
in
the
lighthearted
sector
of
the
crypto
market.
After
a
21%
correction,
the
crypto’s
weekly
performance
has
been
pushed
deeper
into
the
red
zone.
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