In a recent surge of optimism among cryptocurrency traders, social media platforms have been flooded with calls to “buy the dip” following Bitcoin’s price slide. According to data from blockchain analytics firm Santiment, mentions of the phrase reached the highest levels in 22 months, peaking at 323 mentions, the highest since March 25, 2022.
The rise in “buy the dip” mentions on social media indicates initial trader optimism for a quick market recovery. This sentiment gained momentum after a flash crash in the crypto market on January 3, which prompted traders to recognize the potential opportunities presented by lower price levels. Google Trends data further supports this trend, revealing a steady increase in user interest in the term “buy the dip” since November 2023.
