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Santiment: Bitcoin Investor Optimism Rises with Price Surge

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16 hours ago

Leading analytics firm Santiment has indicated renewed optimism among Bitcoin investors following the recent surge to a price of approximately $90,000.

The Rise of FOMO

According to Santiment, the phenomenon of FOMO (Fear of Missing Out) for Bitcoin has peaked. Market participants are eagerly awaiting the potential ascent of Bitcoin to six-figure price levels. As Bitcoin aims for a new all-time high, Santiment observes that traders who positioned themselves before the rally are now selling off their coins to capitalize on the upswing.

The speed of Bitcoin’s rise has traders attempting to estimate how long it will take to reach $100,000. Just two to three months ago, this price seemed unimaginable, but community sentiment has quickly shifted with a 70% increase since the August 5 collapse.

The Role of Whale Wallets

Santiment noted that over the past year, whale and shark wallets holding at least 10 BTC have accumulated a total of 234,150 BTC, currently valued at approximately $19.76 billion.

Euphoria remains high (Bitcoin is not yet at the exact levels of its previous all-time high cycle in mid-March). As long as whales continue to buy more and individual investors sell their cheap coins during minor dips, prices are expected to move upward.

The Future of the Bitcoin Market

The future of the Bitcoin market continues to depend on the positioning of major players and the dynamics that drive market movements.

Santiment's report highlights the key players in the market and the observed trends that may dictate future price movements in Bitcoin.

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