Not 100% related to the topic, but Benjamin Cowen posted an interesting metric of Historical Social Metric Risk:
https://x.com/intocryptoverse/status/1946721969262477783
I don't think the metric is accessible for free, though.
Anyhow, from the comments I understand it represents retail interest via social media activity (e.g., YouTube views/subs, Twitter mentions). But the big question is whether it's bullish or bearish.
Bullish interpretation: it proves that Bitcoin is underhyped and there's still potential for growth.
Bearish interpretation: retail is simply not interested in Bitcoin and won't be putting their money in it.
I'd add a neutral interpretation to it: everybody already knows what Bitcoin is. It has become mainstream and purchasable even on non-crypto finance apps, therefore people could be investing in it without talking about it as much as they did in the past.
https://x.com/intocryptoverse/status/1946721969262477783
I don't think the metric is accessible for free, though.
Anyhow, from the comments I understand it represents retail interest via social media activity (e.g., YouTube views/subs, Twitter mentions). But the big question is whether it's bullish or bearish.
Bullish interpretation: it proves that Bitcoin is underhyped and there's still potential for growth.
Bearish interpretation: retail is simply not interested in Bitcoin and won't be putting their money in it.
I'd add a neutral interpretation to it: everybody already knows what Bitcoin is. It has become mainstream and purchasable even on non-crypto finance apps, therefore people could be investing in it without talking about it as much as they did in the past.