Analytics company Santiment believes that bitcoin (BTC) is heading downward as traders are starting to tire of the recent surge in the cryptocurrency's price.
The company notes that crowd sentiment has reached a level of greed after this week's surge in #BTC prices.
Usually, this coincides with upcoming local tops. It could happen today, this weekend or in the coming weeks, depending on what the whales do at those levels. However, don't expect to be able to buy again at $5,000 or $6,000 unless the global economy starts showing red flags.
BTC is trading at $65,935 at the time of writing, up more than 4% this week.
As for #Ethereum (ETH), Santiment notes that fees on the second most popular crypto asset have recently risen, but that hasn't affected sentiment towards #ETH .
This understated sensitivity in the social debate further supports the idea that fees are unlikely to be a major impediment to using Ethereum in the short term, unless they rise significantly.
It's worth noting that rising fees could signal a market approaching a speculative top, as rising fees often coincide with active movement on the network due to market excitement. However, the current gradual rise in fees is hardly a cause for concern. On the contrary, it reflects a healthy growth trend in the Ethereum ecosystem, especially in the speculative trading of DeFi and smaller tokens.
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