Crypto Market Sentiment Drops Again; Bitcoin Still in the Positive Zone

Crypto market sentiment went for a dive in the first week after the Bitcoin (BTC) halving event on May 11. Crypto market sentiment analysis service Omenics shows that the combined moving average 7-day market sentiment measure, sentscore, for the top 10 coins dropped from last week’s 5.67 to 5.08/10 this week.

While the prices have been rising, the sentscores for all but one coin have dropped, most of them in double-digits, and even that one exception – Stellar (XLM) – saw a small increase of 0.3%. Bitcoin remains in the positive zone, though with a lower sentscore, while Ethereum (ETH) got knocked back down into the neutral zone. We find only two more coins with a score above 5, while the rest dropped into the 4-5 range. That said, none are in the negative zone yet, though Bitcoin Cash (BCH) is sitting at the verge of it.

Meanwhile, observing the situation for the top 10 coins in the last 24 hours, we found it somewhat greener. Though their combined score…