Just as the crypto market started celebrating Jerome Powell’s (hints) of future rate cuts, a new report suggests the very excitement could be its own undoing.
Sentiment tracking platform Santiment has observed a massive spike in online chatter about the Fed’s September decision, with mentions reaching an 11-month high. But instead of confirming the bullish trend, Santiment sees this as a classic red flag.
The firm argues that when a single positive story dominates the conversation to this extent, it often means euphoria has hit a peak and a market cool-down is likely.
So, while the reason for the rally (potential rate cuts) is solid, the crowd’s reaction might be the best signal to be careful what you wish for.
