Crypto ‘buy the dip’ calls are spiking, which may signal more downside

Buy the dip mentions on social media are climbing as Bitcoin falls, which could be a sign the market hasn’t bottomed yet, Santiment says.

The rising number of “buy the dip” calls on social media following Bitcoin’s 5% decline over the past week could signal more downside ahead for the crypto market, sentiment platform Santiment says.

“Clearly, overall, in the markets, people are getting antsy and trying to find some entry spots now that prices have cooled down a bit,” Santiment analyst Brian Quinlivan said in a video published on YouTube on Saturday.

Santiment said in a separate report published on the same day that social media mentions of “buy the dip” have increased significantly amid the crypto market downturn, which may be a warning sign for the market.

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