Santiment: Retail sentiment turns sharply bearish, BTC, ETH, and XRP may be approaching short-term bottom signals

ChainCatcher News, according to data from Santiment, the crypto market has recently been under widespread pressure, with social sentiment towards major assets significantly deteriorating and retail investors adopting a defensive stance as prices continue to fall.

Santiment's sentiment monitoring shows that the long-short sentiment ratio for Bitcoin has become unusually flat, Ethereum is only slightly positive, while XRP is at its most fearful level of the year. Historically, when pessimism among retail investors occurs simultaneously across multiple large-cap assets, it is often accompanied by weak hands exiting the market and the formation of short-term bottoms.

In terms of on-chain indicators, Bitcoin's Net Unrealized Profit (NUP) has dropped to 0.476, approaching the range seen before several previous short-term rebounds. The total market capitalization has now fallen to around $3.47 trillions, but institutional allocation willingness remains cautiously bullish, with the latest survey showing that 61% of institutions plan to increase their crypto asset exposure by the end of the year.

Large holders are also accelerating accumulation, and ETH exchange reserves have dropped to their lowest level since May 2024, reflecting a medium-term accumulation trend.