Bitcoin $150K price calls are ‘drying up,’ which is healthy: Santiment

2 hours ago

The wide fig of crypto marketplace participants calling for Bitcoin to participate caller all-time precocious territory has tapered off, which crypto sentiment level Santiment points retired is simply a affirmative signal.

“Calls for Bitcoin to deed $150k to $200k, and adjacent $50k to $100k, are drying up,” Santiment said successful a study connected Friday.

“This simplification successful FOMO and 'Lambo' memes is really a steadfast marketplace indicator. It shows that retail optimism is fading,” Santiment added.

Bitcoin sentiment bumps up to ‘neutral’

While salient Bitcoin (BTC) advocates specified arsenic BitMEX co-founder Arthur Hayes and BitMine seat Tom Lee were openly calling for Bitcoin to scope arsenic precocious arsenic $250,000 during 2025, the asset’s terms ended up reaching $126,100 successful October, earlier entering a downtrend that yet led to ending the twelvemonth little than wherever it started.

The downtrend continued into the caller year, with Bitcoin dropping to adjacent $60,000 connected Feb. 6, but has since edged up to $67,847 astatine the clip of publication, according to CoinMarketCap.

Santiment said that the sentiment astir Bitcoin, measured by the ratio of bullish to bearish societal media comments, has recovered from “extreme bearishness” to “neutral territory,” which whitethorn marque it harder for marketplace participants to marque trading decisions.

“Better to debar trading successful these scenarios oregon astatine slightest discount the value of sentiment metrics successful your analysis,” Santiment said.

Meanwhile, different indicators suggest that crypto investors are inactive fearful.

The Crypto Fear & Greed Index, which measures wide crypto marketplace sentiment, stayed successful “Extreme Fear” territory connected Saturday, posting a people of 8, suggesting investors are highly cautious.

However, Santiment said the wide enactment connected the Bitcoin web is “flashing informing signs,” explaining that transaction volume, progressive addresses, and web maturation are each “steadily declining.”

“These inferior indicators suggest the web is being utilized little frequently. While not instantly bearish, this dormancy implies traders are sitting connected their hands,” Santiment said, arguing that marketplace enlargement would amusement increasing idiosyncratic participation.

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