Crypto sentiment moves into Fear as interest wanes on ‘obscure altcoins’

Crypto traders are weighing which major asset might lead the next upward move as risk appetite cools, according to Santiment.

Crypto market sentiment has slipped into Fear, with signs showing that investors are temporarily stepping back from moving further down the risk curve, according to sentiment sources.

“It’s clear traders are less interested in obscure altcoins and are instead debating which major asset will break out next,” sentiment platform Santiment said in a report on Saturday. 

Santiment said that the crypto market is increasingly focused on larger-cap crypto assets such as Bitcoin (BTC), Ether (ETH), and XRP (XRP). “A heavy focus on large-caps can indicate a more cautious or ‘risk-off’ sentiment among traders,” Santiment said.

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