Crypto Market Sentiment Improves Over Week, Bitcoin and Ethereum in Positive Zone Today
Sentiment in the crypto market rose slightly this week, after nearly all major cryptoassets recorded higher prices over the past 7 days.
According to data from the market sentiment analysis service Omenics, the average 7-day sentscore for the 10 largest coins tracked rose to 5.08, up from 4.9 last week and 5.02 the week before that.
The boosted sentiment this week was led by a strong improvement in the sentiment around XRP, which increased from 4.1 last week to 5.2 today. Among the other strong gainers was cardano (ADA), which rose from a sentscore of 4.2 last Monday to 4.8 today.
Bitcoin (BTC), meanwhile, saw only a minor improvement in its sentiment, rising from a sentscore of 5.7 last week to 5.8 today. However, it’s still worth noting that BTC had the highest sentscore among the top 10 coins, and that the coin was inching closer to the zone defined as ‘positive’ by Omenics on the weekly overview.
With bitcoin coming in on top and crypto.com coin (CRO) coming in last with a sentscore of 4.1, all of the top 10 coins tracked by Omenics remained in the zone defined as ‘neutral’.
Sentiment change among the top 10 coins*:Interpreting the sentscore’s scale:- 0 to 2.5: very negative- 2 to 3.9: somewhat negative zone- 4 to 5.9: neutral zone- 6 to 7.49: somewhat positive zone- 7.5 to 10: very positive zone
Zooming in on the changes over the past 24 hours, it seems that bullish momentum and positive sentiment are returning to the crypto market, with ethereum (ETH), bitcoin, and polkadot (DOT) coming in on top.
The strongest among the 10 coins was ETH, which saw a 24-hour sentscore of 6.5, ahead of BTC’s 6.4 and DOT’s 6.2. The high scores mark a strong improvement from the weekly scores for all three coins.
As with the weekly view, CRO
Read more on cryptonews.com
