Bitcoin Social Sentiment Shifts Bullish Despite Price Fluctuations

Despite Bitcoin’s price hovering around $85,000, a notable shift in online sentiment has been detected. According to the insightful data from Santiment, a leading cryptocurrency analytics platform, social media chatter regarding Bitcoin has taken a bullish turn.

Santiment’s April 16th X post highlights this positive sentiment, suggesting that traders are optimistic about Bitcoin reclaiming the $90,000 mark. This optimism, however, is contingent upon upcoming global economic news and tariff developments. The last time Bitcoin (BTC) traded above $90,000 was on March 6th.

Growing Confidence in Bitcoin

Santiment’s social media sentiment tracker, which gauges the overall tone of cryptocurrency-related posts, entered \”bullish territory\” on April 16th, registering a score of 1.973. This marks a significant change from the previous neutral stance (below 1.606), reflecting the uncertainty surrounding Bitcoin’s price as it fluctuated around the $85,000 level.

Bitcoin briefly touched $86,000 on April 15th before experiencing a correction to $83,000 the following day. At the time of writing, Bitcoin is trading at $84,390, as per CoinMarketCap.

A potential catalyst for further price increases: approximately $254 million in short positions are at risk of liquidation should Bitcoin regain the $85,000 level (data from CoinGlass).

Several prominent crypto influencers on X have also voiced bullish opinions. Samson Mow’s firm, Jan3, suggested that Bitcoin reaching $500,000 is not unrealistic. Crypto trader \”Ted\” cited increasing global money supply as a potential driver of Bitcoin’s price, while Titan of Crypto highlighted Bitcoin’s consistent higher highs and lows, indicating an uptrend according to Dow Theory.

Related: Bitcoin’s Price Range and Future Predictions

It’s important to note that not all sentiment indicators are uniformly bullish. The Crypto Fear & Greed Index currently reflects a \”Fear\” score of 30/100, indicating a cautious market outlook. This follows a weak Q1 2025 performance for the crypto market, with Bitcoin and Ether experiencing price declines of 11.82% and 45.41% respectively.

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Disclaimer: This article does not provide financial advice. All investment decisions involve risk. Conduct thorough research before investing.