Reuters Adds Data Tracking of 100 Cryptocurrencies
Canada based mass media and information company Thomson Reuters has said in a statement that it will now track the top 100 cryptocurrencies in its sentiment data tool. According to a press release published on Wednesday, June 13, all the necessary data will be provided via a partnership with MarketPsych Data LLC.
This is not the first time that they are doing so. In March, Reuters added Bitcoin (BTC) sentiment data feed to its MarketPsych Indices (TRMI), getting data by scanning more than 400 news and media sites related to cryptocurrencies.
Their latest TRMI Cryptocurrency Sentiment package (TRMI 3.1) monitors over 2,000 news and 800 social media websites for 43 sentiments of the top 100 cryptocurrencies. The TRMI 3.1 uses visualization tools and quantitative research results to support traders in distinguishing significant themes.
Pradeep Menon, the Managing Director and Global Head of Investing and Advisory at Thomson Reuters, said that the shift to crypto in the financial sector prompted the new release:
“Adding a cryptocurrency-focused sentiment feed to our suite of cross-asset solutions has therefore enabled us to provide our customers with invaluable insights that may help them make strategic investment decisions.”
The press release notes that Thomson Reuters has introduced crypto trading on Thomson Reuters REDI this year, which supports the trading of CBOE and CME Group Bitcoin futures.
Fundstrat’s Tom Lee created another kind of crypto sentiment device in March. It was named the Bitcoin Misery Index and it measures how “miserable” Bitcoin holders are based on the current prices.