Bitcoin Cash (BCH) has dropped 6.7% after a surge in bullish sentiment on social media, according to analytics firm Santiment. The Positive/Negative Sentiment ratio for BCH reached 2.3, indicating a predominance of optimistic comments. Historically, such sentiment spikes have often led to price corrections. Earlier this month, the sentiment ratio was at 0.13, preceding a price rise to $650, a 17-month high.
Additionally, CryptoQuant analyst Maartunn reported a significant inflow of $1.33 billion in USDC to centralized exchanges, which could signal upcoming market movements. Currently, BCH is trading around $605, reflecting a 2.5% increase over the past week.
Bitcoin Cash Falls 6.7% Following Social Media Hype
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