Despite a sudden surge in positive sentiment across the Bitcoin market, analysts warn that this bullish trend might be concerning. Data from Santiment reveals an unprecedented increase in positive Bitcoin comments on social media, exceeding negative ones for the first time in over a year. This optimism, fueled by FOMO, could lead to brief price surges but ultimately risks heightened volatility and potential corrections.
Over the past two to three days, positive sentiment across the Bitcoin market suddenly surged to a level not seen in more than a year. While this may seem like a bullish sign, analysts have warned that it is concerning.by the market intelligence platform Santiment, the sudden optimism from the crypto community has increased positive Bitcoin comments on social media so much that they are now more than double the number of negative ones for the first time in a year.
Santiment said bitcoin would start testing its March all-time high levels when traders and the crypto community start slowing down and expressing fear, uncertainty, and doubt again. Until then, the market would remain risky and highly volatile. The market intelligence firm also noted that the sudden optimism began about three days ago. Before that, the market was saturated with negative sentiment and speculations about BTC plunging further to the $40,000-$45,000 levels.at the time that BTC had no significant bullish momentum and that investor interest was fading.
The Fear and Greed index determines investor behavior by considering several factors, including social media, volatility, market momentum, and trends. The index postulates that investors tend to get greedy when the market is surging and become fearful and sell their assets when it is in a downward trend.
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Bitcoin Sentiment Market Volatility FOMO Analyst Warning
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