BTC, ETH, and XRP Face Extreme Fear, But Whales Are Sending Mixed Signals

Retail sentiment around some of the top crypto assets has taken a sharp bearish turn as the market tests major lows, according to Santiment.

Data from social platforms shows Bitcoin recording 0.82 bullish comments for every bearish one, while Ethereum stands at 0.88. XRP looks even weaker, with the ratio falling to just 0.49.

Rebound Close?

“If we continue to see bearish commentary outweigh bullish commentary, especially for top caps, prices will inevitably see a strong relief rally.”

Ethereum whales also reduced their holdings by around 17,800 ETH, worth approximately $40 million. XRP, however, saw an accumulation of 65.32 million tokens worth nearly $72 million over four days.

“The wallets I’m watching show distribution in BTC and ETH, while XRP whales are buying.”

Rough Days For ETFs

Crypto investment products for these assets are still struggling to attract money. Bitcoin ETFs saw another $95 million leave the market, adding to Monday’s $201.08 million outflow. Ethereum funds lost a smaller $1.32 million after seeing $184.51 million in withdrawals a day earlier. XRP ETFs also remained under pressure and lost $7.62 million on Tuesday.

November has been rough so far, with total outflows reaching $1.58 billion for Bitcoin, $551.10 million for Ethereum, and $18.57 million for XRP.