Bitcoin bulls hit 7-month high as BTC flirts with record price

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Bitcoin’s respective breakouts past $110,000 this week person pushed bullish marketplace sentiment to a seven-month high, which was past seen during US President Donald Trump’s predetermination win.

As of June 11, determination are 2.12 affirmative Bitcoin comments for each antagonistic remark connected societal media, crypto analytics level Santiment said successful a June 11 X post.

This is the highest ratio since Nov. 6, the time aft Trump won the statesmanlike election, erstwhile Bitcoin surpassed $70,000 for the archetypal time.

Retail interest successful Bitcoin has been lagging this cycle, with Bitcoin’s terms gains attributed to organization and nation-state adoption. A affirmative displacement successful retail sentiment could beryllium an further boon for Bitcoin.

Santiment information for June 11 tallied 504.54 affirmative sentiment Bitcoin comments, portion 237.71 comments were negative, amounting to a ratio of 2.12. Santiment tracks Bitcoin marketplace sentiment connected X, Reddit, Telegram, 4Chan, Bitcoin Talk and Farcaster.

The emergence comes arsenic Bitcoin has clipped $110,000 respective times implicit the past week, with Santiment noting that “retail has gotten bullish.”

Bitcoin is presently astatine $108,635, down 3% from its all-time precocious of $112,000 acceptable connected May 22, TradingView data shows.

Bitcoin marketplace sentiment successful “greed” zone

Data from the Crypto Fear & Greed Index is besides bullish, scoring the existent marketplace sentiment a 71 retired of 100, successful the “greed” zone.

However, the existent people is acold disconnected the 94 retired of 100 reached connected Nov. 22, a four-year precocious that came connected the backmost of Trump’s predetermination triumph and Bitcoin skyrocketing from a monthly debased of $67,700 to $99,250 (by Nov. 22).

Google Trends information paints a antithetic picture

However, Google hunt involvement for “Bitcoin” inactive shows retail involvement hasn’t travel back.

It presently displays a people of 32 retired of 100 comparative to its highest constituent implicit the past 12 months, the week of Nov. 10-16, erstwhile Bitcoin exploded 18.6% to breach the $90,000 obstruction for the archetypal time.

It besides displays a people of 19 retired of 100 erstwhile compared to precocious 2017, erstwhile Bitcoin hunt involvement deed its highest ever point.