The tone of Bitcoin-related social media posts has become bullish, according to Santiment, the Crypto Analytics platform.
“Traders are optimistic that BTC can reclaim $90,000, which could depend on tariffs and global economic news as the week progresses.” I said April 16th at X Post. Bitcoin (BTC) exceeding $90,000 was last traded on March 6th.
Traders regain trust in Bitcoin
Santiment’s social media tracker measured how social media users felt about Crypto based on the tone of their posts, moving to “Bully Territories” on April 16 with a score of 1.973.
Previously, the score was neutral at under 1.606, as social media users “traversing over $85,000 repeatedly” and social media users didn’t know where Bitcoin prices were heading.
Bitcoin fell to $86,000 on April 15th, and fell to $83,000 the following day. Bitcoin traded for $84,390 at the time of publication. According to Go to COINMARKETCAP.
When Bitcoin regains its $85,000 price level, it puts its short position of around $254 million at risk of liquidation. According to To Coinglass.
Over the past 24 hours, several popular crypto accounts from X have shared bullish comments about Bitcoin. Samson Mow company Jan3 I said Bitcoin hitting $500,000 is “not crazy.”
Crypto trader “Ted” I said“The global money supply is rising. Ultimately, this liquidity will be Bitcoin. Wait and watch.”
Meanwhile, the Crypto Trader Titan of Crypto I said “According to the Dow theory, BTC remains on an uptrend, consistently printing higher and higher lows.”
Related: Bitcoin’s wide price range to continue, no longer a “long” bet – Analyst
However, the other code sentiment trackers are not blinking bullishly. Code fear and greed indexmeasures the emotions across the market and reads 30 out of 100 “fear” scores.
It comes after Crypto Market recorded its weakest first quarter performance in years.
Bitcoin and Ether (ETH), the two largest cryptocurrencies by market capitalization, saw a price drop of 11.82% and 45.41% in the first quarter of 2025, respectively.
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This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
