Bitcoin (BTC) 
$77,394 has increased by 5% over the past week, continuing its upward trend. Although investors remain cautious, social media data reveal a growing optimism in the market. The largest cryptocurrency reached up to $88,500, recovering to this level after 17 days. Additionally, the biggest altcoin, Ethereum (ETH) 
$2,417, briefly surpassed $2,100 after 14 days, joining in the rally.
Excitement for Cryptocurrency on Social Media
According to on-chain analysis platform Santiment, positive comments in social media posts by investors have hit a six-week high. For Bitcoin, social sentiment is notably positive for the first time since February 14. A similar trend is present for Ethereum, indicating a resurgence of confidence in the cryptocurrency market.
Investor sentiment often plays a crucial role in price movements. Historically, increased positive social sentiment has resulted in upward market reactions. The current outlook strengthens the possibility of continued upward momentum.
Ethereum’s momentary rise above $2,100 highlights investor interest not only in Bitcoin but also in major altcoins. The upward trend seen in both cryptocurrencies has contributed to building investor confidence.
ETH
SOL
BSC
ROBINHOOD
USDT
AAPLMixed Signals from On-Chain Indicators
Despite the rise, Bitcoin’s Inflow-Flow Position (IFP) metric shows weak signals. The IFP stands at 696,000, below the 90-day simple moving average of 794,000, indicating that a strong upward trend has not yet been validated. Moreover, the CQ Bull & Bear Market Cycle indicator continues to produce bearish signals, similar to previous downturns.
Bitcoin’s Market Value to Realized Value (MVRV) ratio is trading below the 365-day average. A similar scenario occurred during the carry trade crisis in August 2024, leading to selling pressure. Current risks remain consistent with this pattern.
The Net Unrealized Profit/Loss (NUPL) metric is also below the 365-day average. This suggests that the momentum for a market rise may be weakening. For Bitcoin to regain strength, NUPL must rise above average levels.
