Santiment says the ratio of bullish to bearish Bitcoin comments on social media has hit a three-week high as traders grow more optimistic about Bitcoin breaking above $110,000.
Crypto traders are becoming increasingly bullish on social media over Bitcoin’s chances of reclaiming $110,000, but the surge in optimism isn’t always a good sign, says blockchain analytics platform Santiment.
“It’s pretty clear that the crowd is starting to salivate over a potential $110K+ Bitcoin market value,” Santiment analyst Brian Quinlivan told Cointelegraph.
Santiment data shows that for every bearish comment on Bitcoin (BTC), there are now 1.51 bullish comments — the highest sentiment ratio in the past three weeks. The data was pulled from multiple platforms, including X, Reddit, Telegram, 4chan, BitcoinTalk and Farcaster.
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