Emotions are mixed in the crypto market, what is the situation with Bitcoin and Ethereum?

In the cryptocurrency market, significant fluctuations occurred over the past week, causing a substantial change in investor sentiment. Leading cryptocurrencies have gone through a period filled with rapid price surges and sharp pullbacks. The price of Bitcoin briefly tested the $94,000 level but returned to the $89,000 range before the week's close.

During this period, most altcoins turned red, with some assets like Zcash and Canton experiencing a decline of over 20%. However, Ethereum’s successful implementation of the Fusaka upgrade demonstrated that the network's performance has strengthened in terms of speed and scalability. This upgrade, particularly with new features like PeerDAS, made it easier to run nodes and reduced costs on layer 2 networks.

Investor sentiment towards the six major assets has been shaped according to Santiment's social data analysis as follows:

Bitcoin: Mixed Expectations. Bitcoin started December around $80,000 and rose to $94,000. However, the long-observed $97,000 resistance could not be breached once again, indicating a widening gap between investors' expectations and reality. Overall sentiment remains neutral for this reason.

Ethereum: Moderate Optimism After the Upgrade. A brief price recovery was observed following the Fusaka update, but the impact remained limited. Nevertheless, the network's activity and developer strength are among the factors keeping investors optimistic in the long term.

XRP: Pressure Continues, But Interest Remains. XRP has lost 32% of its value in the past two months, yet it continues to attract demand from major investors during this challenging period. Wallet additions from funds indicate a sustained long-term interest. Community sentiment returned to a neutral level after a sharp decline.

BNB: Quiet Waiting. The largest asset in the Binance ecosystem, BNB, has declined by around 35% from the $1,370 level it saw four weeks ago. However, the expansion of use cases keeps BNB strong.

Solana: Under Pressure Despite ETFs. New ETF applications and product launches are significant developments for Solana, yet it has experienced a 44% decline over the last two months. While there are thoughts that institutional interest may increase in the future, current conditions keep sentiment at a neutral level.

Tron: The Strongest Sentiment Here. The Tron network surpassed 350 million users, reaching an important milestone. Large withdrawal transactions from a wallet associated with Justin Sun and campaigns promoting the use of USDT for real estate payments are keeping the ecosystem vibrant. As a result of these positive developments, community sentiment is at a very positive level.

Cryptocurrency investors should closely monitor developments, especially regarding Bitcoin, Ethereum, and XRP, and evaluate market sentiment to formulate their strategies.