According to the analytics platform, the level of bullishness among traders has reached a 30-day high.
“The crypto crowd is far from euphoric toward markets. But the persistent negativity and bearishness has faded as traders anticipate a rebound here in Q4. BTC, BNB, XRP, and ADA all indicate crowd bullishness, while ETH is just slightly bearish.”
Bitcoin is trading at $19,214 at time of writing while Binance Coin, XRP and Cardano are changing hands at $272.8, $0.464 and $0.354, respectively.
On the amount of Bitcoin held in exchanges, Santiment says that the daily amount of the flagship crypto asset leaving trading platforms recently hit a four-month high further reducing the sell-off risk.
According to Santiment, the supply of Bitcoin on exchanges is now at a four-year low.
“Bitcoin saw a massive surge of coins moving off of exchanges yesterday, its largest daily amount (40,572 BTC) in 4 months. The supply of coins on exchanges is down to 8.48%. As exchange supply decreases, it de-risks chances of a future sell-off.”
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