Bitcoin's price surged to $108.2K after news of a ceasefire between Israel and Iran, instigating widespread optimism in the market.
Market Sentiment Shift
The overall market sentiment remains firmly bullish, with BTC breaking above $108K after a week of consolidation. Speculative discussions quickly flipped from collapse talk to targets exceeding $120K, reflecting extreme emotional responses to global news.
Optimism Following Ceasefire
According to data shared by Santiment, low-end Bitcoin price mentions ($30K–$70K) peaked on June 22, reflecting traders' anxiety amidst escalating conflict. However, by June 25, conversations flipped entirely toward bullish targets ranging from $120K to $160K.
Social Metrics and Fear-Greed Cycles
Social volumes across both bearish and bullish spectrums mirrored intense emotional cycles among market participants. After the decline in bearish sentiment post-June 23, bullish calls began to dominate social platforms, confirming that fear and greed continue to dictate market behavior.
Recent events have demonstrated how external factors can instantly alter crypto investor psychology, underscoring the significance of emotional cycles in trading behavior.
