Cryptocurrency analytics firm Santiment has released a prominent rating of Bitcoin (BTC)’s recent price movement.
The analysis shows that BTC rose above the $95,000 level, reaching its highest value since February, bringing a wind of optimism to the crypto community.
Data from Santiment shows bullish sentiment towards Bitcoin has risen significantly on social media, with the company explaining that “the biggest bullish stocks are on the rise since the night of Trump’s election victory on November 5, 2024.”
However, Santiment warned that as the weekend enters, the crypto market can see a horizontal trend or a slight pullback. Analysis shows that this could lead some individual investors to make a profit. In such a scenario, “whales” are said to be able to use these sales to support BTC repurchase and boost prices over $100,000 in the next week or two.
Santimento also focuses on market sentiment, and the analysis suggests that the trend in the balance of community greed and fear plays an important role in determining whether Bitcoin will create a local peak or break away from its correlation with traditional markets.
*This is not investment advice.
