• At the moment, the highest trending key phrases in cryptocurrency present worry available in the market.
• Knowledge from Santiment reveals that {hardware} wallets and security-related key phrases dominate social media.
• There have been related indicators of worry after the FTX chapter final November.

Crypto key phrases at present trending on blockchain analytics platform ‘Santiment’ present appreciable worry within the crypto market. The most recent trending key phrases might point out market bottoms and trace at an uptick within the close to future. The same key phrase panorama was witnessed within the aftermath of final yr’s FTX chapter.

In response to the key phrase traits collected by Santiment over the previous week, subjects reminiscent of ledger, firmware, and {hardware} are the highest trending key phrases. These are complemented by associated phrases reminiscent of pockets, safe, seed and key, all of which dominate cryptocurrency circles on social media platforms.

The repeated look of key phrases reminiscent of safe and pockets reveals the worry of the present cryptocurrency market. “One of many major indicators of worry is that the highest trending crypto key phrases are nearly all associated to {hardware} wallets and safety,” Santiment tweeted as we speak, citing merchants’ present security considerations. emphasised.

Santiment added that related key phrase traits had been noticed after the FTX chapter in November 2022. Key phrases reminiscent of safe and pockets are reportedly getting used regularly on social media when the market is feeling worry. Such traits might additionally point out a market reversal.

The argument that worry is rising available in the market is just strengthened by different cryptocurrency dashboards. A multi-factor crypto market sentiment evaluation of alternate options confirmed a major drop in worry and greed over the previous month, dropping from the grasping degree of 63 to the present impartial degree of 48.

The bearish sentiment amongst crypto merchants can be exhibiting of their buying and selling positions. In response to Coinglass information, quick positions opened by crypto merchants outnumbered lengthy ones. Moreover, merchants are making an increasing number of quick trades after Might 13, 2023.