Santiment Monthly Report: July's Price Bounces Came After Many Gave Up Hope

As we typically see, the crowd gets irrationally bearish just when prices are ready to heat up. Time after time, we see traders’ capitulation getting punished for not believing, and jumping off of the crypto ship because it was sinking too quickly (in April through June) for them to handle.

Now, here we are. Bitcoin is back over $23,000 and Ethereum is back over $1,600. These prices may still be a far cry from the all-time highs put up in November, 2021. But at least we've had a full month of legitimate growth (+18% in July) after Q2 was full of so much doom and gloom.

As we can see from price returns in the past 30 days, there have been some pretty remarkable price resurgences.

Lido Dao and Ethereum Classic were the obvious stars, and the two market caps