Can Crypto Fear Spark a Reversal? What Social Data Shows for Bitcoin, Ether and XRP

TLDR Bitcoin fell 2.2% to $73,649 on Tuesday after a hotter-than-expected U.S. inflation report. Social media data shows more bearish than bullish posts for Bitcoin, Ethereum and XRP. Bitcoin ETFs saw $201 million in outflows on Monday, after $1.2 billion last week. Fed Governor Christopher Waller backed rate hikes, and a half-point hike is possible. Senator Elizabeth Warren was tapped to lead the Senate Banking Committee. Bitcoin fell on Tuesday as traders reacted to new inflation numbers. The largest cryptocurrency dropped 2.2% to $73,649.4 by 17:29 ET. It slipped below $74,000 during the day. Mood across the crypto market has turned negative. Social media data from Santiment, which tracks posts on X, Reddit and Telegram, shows more bearish comments than bullish ones for the top coins.

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