Cryptocurrency analytics firm Santiment has published a remarkable assessment of Bitcoin’s (BTC) recent price movements.
According to the analysis, BTC’s rise above the $95,000 level, reaching its highest value since February, has brought winds of optimism to the crypto community.
Data from Santiment shows that bullish sentiment for Bitcoin has increased significantly on social media, with the firm describing the rally as “the largest bullish share increase since the night of Trump’s election victory on November 5, 2024.”
Related News
Bloomberg Analyst Mike McGlone Warns About Bitcoin and Cryptocurrencies
However, Santiment warned that the crypto market could see a sideways trend or a slight pullback as we enter the weekend. According to the analysis, this could lead some individual investors to take profits. In such a scenario, it is stated that “whales” could take advantage of these sales and support BTC’s repurchase, pushing the price above $100,000 in the next 1-2 weeks.
Santiment also noted market sentiment, with the analysis suggesting that trends in the community’s balance of greed and fear will play a key role in determining whether Bitcoin will make a local peak or break away from its correlation with traditional markets.
*This is not investment advice.
