Crypto
Bearish Sentiment Hits Ethereum and XRP as October Begins
The sentiment surrounding Ethereum (ETH) and XRP has turned sharply negative to start October, according to data from Santiment. The analytics firm tracks the ratio of bullish to bearish commentary across major social platforms.
The ratio for Ethereum fell to 0.89, its lowest level since June 7, while XRP recorded an even lower reading of 0.67, marking its weakest sentiment level since August 17.
Santiment noted that extreme pessimism does not necessarily represent a bearish signal for prices, and instead cautioned against reading bearish sentiment as a direct sell signal.