Leading analytics firm Santiment stated through social media platform X that Bitcoin’s recent surge to approximately $90,000 has revitalized BTC investors’ optimism. The report highlights the growing sentiment in the market as traders anticipate further price increases.
The Rise of FOMO
According to Santiment, FOMO (Fear of Missing Out) for BTC has begun to peak. Market participants are eagerly awaiting Bitcoin’s potential ascent to six-figure price levels.
As Bitcoin 
$88,393 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 price, which had been fluctuating in a narrow range for months, has often led short-term traders into traps. As anticipated, they faced disappointment due to a sudden upward breakout, with BTC delivering unexpected results and triggering billion-dollar liquidations.
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 continues to depend on the positioning of major players and the dynamics that drive market movements.
