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Crypto Market Sentiment Takes a Step Up; Bitcoin and Ether Remain Positive
Crypto market sentiment has taken another step upwards. Following the last week's small rise to 5.13/10, the combined moving 7-day average market sentiment score (sentscore) for the top 10 coins has increased to 5.33 over the course of last seven days, as shown by crypto market sentiment analysis tool Omenics. Both Bitcoin (BTC) and Ethereum (ETH) remain in the positive zone as the only ones there - the former with a lower and the latter with a higher sentscore.
The number of coins with a sentiment increase has doubled since last Monday, now there being eight of them. Among these, EOS is leading by far, seeing its score go up by more than 19%, escaping the negative zone. Actually, there are no more coins in the negative zone this week, as Bitcoin Cash (BCH) escaped too. Meanwhile, BTC is one of the two coins whose scores have dropped, the other one being Tezos (XTZ). Still, both dropped 1% or less, which manifested itself in a 0.1 difference in score for both coins compared to last Monday's sentiment. Meanwhile, ETH's score is by 0.1 higher than last week.
In the last 24 hours, the situation is different, and much better than a week ago when it was mostly red. Now, the general perception of the most of the top 10 has improved between 0.5% (Cardano (ADA)) and 10.3% (XRP), with the combined 24-hour average sentscore rising to 5.86 from last Monday's 5.08. No coins are in the negative zone, while four are in the positive zone: Bitcoin (7.3), Ethereum (6.7), Cardano (6.4), and Binance Coin (BNB) (6.3).
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