Sentiment Improves as Bitcoin, Ethereum Jump into Positive Territory

Source: iStock/da-kuk

Sentiment in the crypto market improved markedly over the past week, with the 7-day sentscores of both of the two largest cryptoassets now back in positive territory, according to the market sentiment analysis service Omenics.

With the average 7-day sentscore for the 10 major coins tracked reaching 5.46 this week, sentiment as measured by Omenics and reported every Monday by is now at its strongest for the year.

The strong sentiment comes as bitcoin (BTC) has broken out of a key resistance level to reach its highest price since the start of the year.

The current average sentscore for the 10 coins is up from a score of 5.08 last Monday, and further up from 4.9 seen two weeks ago.

Just like last week, BTC came in with the strongest sentiment over the past 7 days, this time with a sentscore of 6.3. The coin was followed by ethereum (ETH) with a 7-day sentscore of 6.1, and polkadot (DOT), which came in with a score of 5.8.