Bitcoin's (BTC) break below key support has prompted a flurry of 'buy the dip' calls on social media. However, liquidity trends suggest a potential for a deeper decline.

BTC has dropped over 3% to $111,590 this week, piercing the widely-tracked 50- and 100-day simple moving averages (SMA). Both indicators have lost their upward momentum for the first time since April, now flatlining to signal caution for bulls.

Meanwhile, mentions of "buy the dip" on social media have surged to their highest level in nearly a month, a telltale sign of bullish sentiment among retail investors, according to data tracking platform Santiment. The platform tracks "buy the dip" mentions using its social trends indicator, which analyses the volume of relevant keywords and phrases across Reddit, Telegram and X (

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