Bitcoin’s Social Dominance Tanks Over 30% As Price Dips Below $42K, LunarCrush Data Reveals

Bitcoin BTC/USD momentarily dipped under the $42,000 mark on Sunday evening. The apex cryptocurrency plummeted from $43,357 to an intraday low of $41,800 within just 20 minutes.

What Happened: Data from LunarCrush reveal a decline in Bitcoin’s social metrics as well. In the last 24 hours, Bitcoin’s social dominance has decreased by 30%, with social engagement also taking a 35% hit, now standing at 7.29 billion interactions.

Social dominance measures a cryptocurrency’s “share of voice” by comparing its social media volume to that of the entire crypto market, according to LunarCrush. Social engagement reflects the total interactions with posts, encompassing actions such as retweets…

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