Bitcoin Retail Optimism Rises as Social Media Sentiment Turns Bullish

Recent data indicates a shift towards optimism in social media sentiment regarding Bitcoin. Analytics firm Santiment reports an increase in mentions of bullish terms like "higher" and "above" on social platforms.

  • The Bitcoin Social Volume metric has shown a slight increase, with bullish comments surpassing bearish ones.
  • Historically, optimistic sentiment often precedes contrary market movements, with past trends showing price drops following spikes in greed.

Bitcoin Social Volume

  • Current sentiment hasn't reached high levels of greed, so its impact remains uncertain.

Additionally, cumulative Bitcoin returns have recently flattened across all trading sessions (US, Europe, Asia-Pacific), as noted by CryptoQuant analyst Maartunn. This indicates neutral market momentum without distinct behavior from any trader demographic.

Bitcoin Returns By Session

BTC Price: Bitcoin is currently in a consolidation phase, trading around $88,000.

Bitcoin Price Chart