Bitcoin pushed past $87,000 on Monday before stabilizing a little below it. But the rally has triggered a strong surge in market optimism.<\/p>\n
In fact, Santiment found that Bitcoin-related FOMO has reached a level not seen since late 2024.<\/p>\n
Social media discussions are now heavily tilted toward expectations of more gains. The shift comes after a strong short squeeze pushed prices higher. Around $648 million in bearish crypto positions were liquidated within 24 hours. This added fresh buying pressure to the market.<\/p>\n
To top that, crypto trading volume also jumped 39% during the move. However, traders are also taking on more leverage. Open interest across the crypto market rose<\/a> about 7.6% to $156 billion, even after a large number of short positions were wiped out. This suggests some traders are quickly opening new positions instead of reducing risk.<\/p>\n According to Santiment, however, this extreme optimism can become a warning sign when market expectations become too one-sided. The current sentiment does not guarantee a price reversal. But the big jump from fear to FOMO indicates that traders are becoming increasingly confident after BTC\u2019s latest move higher.<\/p>\n But some experts believe that the latest rally may have more room to run. Analyst Doctor Profit said<\/a> Bitcoin is repeating a pattern seen during the 2022-2023 period. The asset recently surged past the crucial level of the 50-week moving average, which sits around $78,700. A weekly close above this could further strengthen the bullish case. The analyst also identified $88,000 as the next major target if Bitcoin clears the remaining resistance levels.<\/p>\n On a longer timeframe, \u2018The Long Investor\u2019 projected a Wave 5 target of $350,000 by 2030. Crypto Patel, on the other hand, has set his sights much higher. The asset\u2019s previous major cycles showed a 364-day gap between the market peak and bottom. That same timing has now appeared again. If history keeps rhyming, the analyst sees $370,000 as a possible next destination for BTC.<\/p>\n After taking into consideration various cost basis models and time frames, Glassnode also stated that Bitcoin remains in a \u201cbullish regime\u201d while adding that its price trades above both the True Market Mean and the short-term holder cost basis.<\/p>\n \u201cHolding above these levels is what historically defines a sustained uptrend.\u201d<\/p>\n The post Bitcoin FOMO Surges as Traders Pile Back In: But Crowded Bets Can Turn Fast<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin pushed past $87,000 on Monday before stabilizing a little below it. But the rally has triggered a strong surge in market optimism. In fact, Santiment found that Bitcoin-related FOMO has reached a level not seen since late 2024. $648M in Shorts Gone Social media discussions are now heavily tilted toward expectations of more gains. […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-230696","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/230696"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=230696"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/230696\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=230696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=230696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=230696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bullish Regime<\/h2>\n