Bitcoin Social Discussion Volume Reaches 4-Month High as Price Falls Below $95,000

Bitcoin's social media discussion volume hit a four-month peak on Friday as the cryptocurrency dropped below $95,000, crypto sentiment analysis platform Santiment said. The platform noted on Nov. 16 that while surging social discussion does not guarantee a market bottom, it significantly raises the likelihood of a reversal. Elevated discussion levels reflect heightened retail panic and widespread fear, uncertainty, and doubt across the market.