The tone of Bitcoin-related social media-related posts flipped into bullish according to the crypto analytics platform Santiment, despite the continued bitcoin swing around $ 85,000.
“Entrepreneurs show optimism that BTC can recover $ 90K, which is likely to rely on news and global economic news as Sunday is emerging,” Santiment Says In a post of April 16 x. The last time bitcoin (Btc) exchanged above $ 90,000 is March 6.
Traders have gained trust in Bitcoin
Santiment’s social media tracker, which measures how social media users feel about crypto based on the tone of their posts, switched to “bullish territory” on April 16 with a mark of 1.973.
Before it was neutral, with a mark below 1.606, as social media users were unsure about which Bitcoin’s price was headed as it was “repeatedly crossing above and below $ 85K,” Santiment added.
Bitcoin tapped as high as $ 86,000 on April 15 before returning to $ 83,000 the next day. Bitcoin traded at $ 84,390 at the time of publication, According to In coinmarketcap.
If Bitcoin revoked a $ 85,000 price level, approximately $ 254 million in short positions would be at risk of extermination, According to In coinglass.
In the past 24 hours, many popular Crypto accounts in X shared comments with Bitcoin. Samson Mow’s firm Jan3 Says That bitcoin hit $ 500,000 “isn’t crazy.”
Crypto Traders “Ted” Says“The global supply of money will climb, and eventually, this liquidity will enter Bitcoin. Just wait and watch.”
Meanwhile the Crypto Crypto businessman Says That “according to the theory of Dow, the BTC remains in a raid, which continues to print higher and higher lows.”
Related: Bitcoin’s extensive price range to continue, not that ‘long’ long ‘stakes – analyst
Other crypto sentiment trackers do not flash as bullish, however. The crypto fear & greed Indexmeasuring the general sentiment in the market, reading a “fear” mark of 30 to 100.
It came after being posted by the crypto market The weakest performance of the first quarter in the years.
Bitcoin and ether (Eth), the two largest cryptocurrencies by market capitalization, saw price declines of 11.82% and 45.41%, respectively, more than Q1 2025 – a quarter with history who saw strong results for both possessions.
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This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
