![\"Bitcoin](\"https:\/\/pbs.twimg.com\/media\/HHBYN1nacAAoZ0J?format=jpg&name=4096x4096\")
<\/p>\nSocial media data shows trader calls for $90,000+ Bitcoin prices have registered a spike recently, a potential sign of FOMO brewing in the market.<\/p>\n
In a new Social Volume,” which measures the total number of posts\/messages\/threads containing unique mentions of a given term or topic that currently exist on the major social media platforms.<\/p>\n
As an initial filter, Santiment separated the social volume for Bitcoin-associated terms. Then, it further filtered it for terms related to price predictions. For bearish calls, the analytics firm has chosen the sub $50,000 to $59,000 price range, while for the bullish ones, it has selected the $90,000 to $99,000 range.<\/p>\n
Below is the chart shared by Santiment that shows how the Social Volumes related to the two types of calls have changed over the past month.<\/p>\n
As is visible in the graph, the Bitcoin Social Volume related to the sub-$60,000 prices shot up back at the start of April. This means that social media users were expecting a bearish outcome for the cryptocurrency.<\/p>\n
What followed this market pessimism was a recovery rally that took BTC to a peak above $79,000, instead of the outcome that the crowd was expecting. This is a pattern that has actually been observed time and again; digital asset markets tend to move against the expectations of the majority.<\/p>\n
From the chart, it’s visible that social media sentiment around Bitcoin has flipped recently, with the calls related to the $90,000+ levels overtaking the Social Volume of the sub-$60,000 levels. This optimism has interestingly maintained despite the pullback that BTC has seen since its high.<\/p>\n
Considering the past pattern, the high Social Volume of the $90,000+ terms may be not be a positive sign for the cryptocurrency. “Price predictions of a coin are a great way to see what the OPPOSITE likely path for prices will look like,” noted the analytics firm.<\/p>\n
The current social media optimism around Bitcoin is also visible from the perspective of another indicator known as the Positive\/Negative Sentiment. As the below chart shows, this metric has spiked to a value of 1.38, which implies that there are 1.38 bullish comments related to BTC for every bearish post.<\/p>\n
![\"Bitcoin](\"https:\/\/pbs.twimg.com\/media\/HHAOV30aMAARWwV?format=jpg&name=4096x4096\")
Solana is observing bullish sentiment of an even higher intensity, with positive comments outpacing negative ones by nearly 3:1.<\/p>\n
Bitcoin has returned to the $76,700 mark following its retrace.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Social media data shows trader calls for $90,000+ Bitcoin prices have registered a spike recently, a potential sign of FOMO brewing in the market. Bitcoin Has Seen An Uptick In Greedy Social Media Calls In a new Social Volume,” which measures the total number of posts\/messages\/threads containing unique mentions of a given term or topic…<\/p>\n","protected":false},"author":1,"featured_media":11372,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[245],"tags":[65,2545,965,5251,111,73,71],"class_list":["post-11371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-contrarian","tag-bitcoin-fomo","tag-bitcoin-greed","tag-bitcoin-news","tag-btc","tag-btcusdt"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/11371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=11371"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/11371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/11372"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=11371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=11371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=11371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}