Data: Santiment: Retail investor sentiment has turned pessimistic, BTC, ETH, and XRP may be approaching short-term bottom signals.

According to Mars Finance, recent data from Santiment shows that the crypto market is generally under pressure, with a noticeable deterioration in social sentiment for major assets. Retail investors have shifted to a defensive posture as prices continue to fall. Santiment's sentiment monitoring indicates that Bitcoin's bullish-bearish sentiment ratio has become unusually flat, Ethereum is slightly positive, while XRP is at its most panicked level of the year. Historically, when multiple large cap assets simultaneously exhibit pessimistic sentiment from retail investors, it often accompanies weak hands exiting and the formation of a short-term bottom. On-chain indicators show that Bitcoin's unrealized profit margin (NUP) has dropped to 0.476, nearing the range observed before several past short-term rebounds. The total market capitalization has currently dipped to around $3.47 trillion, but institutional allocation intentions remain cautiously bullish, with the latest survey showing that 61% of institutions plan to increase their exposure to crypto assets before the end of the year. Large holders are also accelerating their accumulation, and ETH exchange reserves have fallen to the lowest level since May 2024, reflecting a mid-term accumulation trend.