Skip to main content

Bitcoin Sentiment Remains At Extreme Low Despite Price Surge Above $77K

The price of Bitcoin has been on a tear in the past week, drawing positive momentum from the improving conditions of the ongoing conflict in the Middle East. On Friday, April 17, the premier cryptocurrency surged to around $77,500, reaching a new 10-week high on the day. Despite the heating price action, on-chain data suggests that there has not been a commensurate increase in investor sentiment.

Bearish Investor Sentiment Could Mean Continued BTC Rally?

In a recent post on the social media platform X, Santiment revealed that the Bitcoin market sentiment is still at an extreme low after the latest run-up toward the $77,500 level. Contrary to general expectations, the latest spurt of bullish price action did not trigger a wave of FOMO (fear of missing out) sentiment among investors.

According to data from Santiment, there are currently two bearish comments for every two bullish remarks about the world’s largest cryptocurrency. The on-chain analytics firm mentioned that retail investors are showing signs of fatigue related to the ongoing geopolitical tensions and continued ceasefire developments.

Related Reading: Stocks Are At All-Time Highs, Bitcoin Is Lagging: Is BTC Late To The Rally?

Santiment wrote on X:

So even though there is an end-of-week rally related to Trump’s latest announced ceasefire, retail appears to be taken any news with a grain of salt.

What’s interesting is that this FUD (fear, uncertainty, and doubt) and not-so-bullish investor sentiment seems to spell good news for the Bitcoin price. Typically, rallies tend to be short-lived whenever investor sentiment overheats, aligning with the market theory that prices move in the opposite direction of the crowd.

As Santiment noted in its post on X, most traders are skeptical about the continued rally of the Bitcoin price, with many confidently expecting an $84,000 top (at the very best). However, the flagship cryptocurrency could surge past this expected top, as it has often done in the past.

Bitcoin

“This also is a good sign that a rally can shoot right past the small traders’ expected outcomes, and potentially surge to $90K+; Markets nearly always move opposite to the crowd’s expectations, so avoid following the herd,” the blockchain intelligence firm said.

Santiment, however, warned that new developments can emerge, meaning that the Bitcoin price trajectory could change in a heartbeat. From fresh developments in the Middle East tensions to whether the Clarity Act proposal reaches US President Donald Trump’s desk, there are several factors to watch out for over the coming weeks.

Bitcoin Price At A Glance

As of this writing, the price of BTC stands at around $77,381, reflecting 3% increase in the past 24 hours.

Bitcoin

from Bitcoinist.com https://ift.tt/79l5NMa
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Goes Official: Texas Becomes 1st US State With BTC Reserve

Everything is big in Texas, many would say. Today, the state is looking past its current state of finances by adding Bitcoin to its coffers–and making things bigger in terms of its economic implications. Texas became the first US state to establish a crypto reserve . On March 7, 2025, legislators passed Senate Bill 21, which gives the green light to the state to direct public funds toward Bitcoin and other digital assets. The action has elicited both support and concern, with some viewing it as a prudent financial hedge and others warning of potential pitfalls. A Push For Bitcoin In The Lone Star State For months, Texas has been seeing increasing favor for the idea of a Bitcoin reserve. Senator Charles Schwertner introduced SB 778, a measure that proposes establishing a strategic stockpile. Including the top crypto asset into the state’s financial reserves was meant to help cushion inflation and economic uncertainty. Texas officials, especially Lieutenant Governor Dan Patrick, wh...
Post a Comment
Read more

Liczba milionerów kryptowalutowych wzrosła o 40%. Rynek przekracza 3,3 biliona dolarów

Rozwój rynku kryptowalut widać również bo liczbie osób, których portfel kryptowalutowy przekroczył milion dolarów. Według najnowszego raportu Henley & Partners, liczba inwestorów posiadających majątek przekraczający milion dolarów w cyfrowych aktywach wzrosła o 40% w ciągu ostatniego roku. Aktualnie na świecie jest już 241 700 milionerów, jeśli chodzi o waluty cyfrowe. Wzrost ten zbiegł się z historycznym momentem, gdyż w połowie 2025 roku kapitalizacja całego rynku kryptowalut przekroczyła 3,3 biliona dolarów . Bitcoin wciąż liderem wzrostów Największy udział w tworzeniu nowych fortun ma niezmiennie Bitcoin. Liczba posiadaczy portfeli BTC, których wartość przekracza milion dolarów, wzrosła aż o 70% rok do roku i wynosi dziś 145 100 . Jeszcze bardziej imponująco wygląda grupa tzw. Centymilionerów, czyli inwestorów posiadających ponad 100 milionów dolarów w Bitcoinie. Ich liczba wzrosła o 63% , osiągając poziom 254 osób. Co więcej, liczba miliarderów BTC podskoczyła do 17, notu...
Post a Comment
Read more

Slow And Steady Wins? Bitcoin To Hit $1M Via ‘Pump’ And ‘Consolidate’ Pattern: Expert

The bull cycle was deemed over when the price of Bitcoin tragically fell toward $75,000 earlier in March 2025. Having notched an all-time high of above $100,000, most investors feared that the premier cryptocurrency had already reached its top for the current cycle. Contrary to popular belief, the price of Bitcoin has since forged multiple new all-time highs, with the current record high at around $122,800. Interestingly, the now-popular market consensus is that it is only a matter of time before the BTC price reaches a seven-figure valuation. How Will Bitcoin Hit $1 Million In 10 Years? In a recent post on the X platform, Blockware Bitcoin analyst Mitchell Askew has joined a growing list of experts to put forward a $1 million projection for the premier cryptocurrency. According to the analyst, the price of BTC is expected to achieve this major milestone over the next 10 years. What’s interesting is that Askew expects the Bitcoin price to reach a $1 million valuation in the next ...
Post a Comment
Read more