After a record high in March, Bitcoin has struggled to maintain its momentum. However, a recent surge has sparked a shift in sentiment.
Bullish Sentiment on the Rise
According to Santiment, a crypto analytics firm, Bitcoin’s sentiment has turned bullish after its recent rally above $67,000. This is based on their Weighted Sentiment metric, which combines sentiment score and social volume.
When social volume is high and sentiment is positive or negative, the Weighted Sentiment changes significantly. Bitcoin’s recent surge has driven its Weighted Sentiment to its highest level since January.
Not Just Bitcoin
Chainlink (LINK) is also experiencing positive sentiment, reaching its highest level in over a year. However, Santiment warns that FOMO (fear of missing out) can lead to a price crash.
Bitcoin Price Outlook
At the time of writing, Bitcoin is trading at $66,924, up 2.3% in the past day and 10% in the past week.
