Core Insights - The recent price fluctuations of Bitcoin, including a dip to $80,000 and a subsequent rise to $89,000, have led some in the crypto community to declare it a market bottom, but analysis from Santiment suggests this may be premature [1][2][4] Market Sentiment - Bitcoin's current trading price is $87,700, with the global crypto market cap at $3.02 trillion, reflecting a 0.3% increase in the past 24 hours [4] - Increased bullish sentiment among investors has been noted, alongside a rise in long positions, as funding rates on crypto exchanges remain above zero [4] On-Chain Activity - Bitcoin's on-chain activity and network growth are significantly below the peak levels observed in December 2023, with only 2.2 million new Bitcoin addresses created weekly compared to over 3.3 million previously [5] - The narrative of a market bottom is questioned due to mixed sentiment reflected in current crypto liquidations, which reached $296 million in the last 24 hours [5][6] Institutional Sentiment - Despite bullish calls on social media, institutional sentiment appears bearish, as evidenced by a net outflow of $3.57 billion from spot BTC exchange-traded funds in the US for November [6]

i will bottom the markets myself https://t.co/2h8sPKvgyT ...

would be a real shame if y’all sold the bottom on the weekend for no reason againUdi Wertheimer (@udiWertheimer):would be a real shame if y’all sold the bottom on the weekend for no reason again ...