Bitcoin Price Calls Are 'Drying Up' Which Is Healthy: Santiment
Santiment reports that the reduction in extreme Bitcoin price predictions is a healthy sign, indicating fading retail FOMO.Summary
Crypto sentiment platform Santiment suggests that the tapering off of aggressive calls for Bitcoin to reach new all-time highs, such as $150k to $200k, is a positive market indicator signaling a reduction in retail Fear Of Missing Out (FOMO).
Despite some prominent figures predicting highs up to $250,000, Bitcoin peaked around $126,100 in October and subsequently entered a downtrend, falling to near $60,000 in February before recovering slightly. Santiment notes that social media sentiment has moved from "extreme bearishness" to "neutral territory," which might complicate trading decisions.
However, Santiment also warns that on-chain utility indicators, including transaction volume, active addresses, and network growth, are steadily declining, suggesting less frequent network usage and that traders are currently inactive, which implies market expansion requires growing user participation.
(Source：Cointelegraph)