Leading analytics company Santiment, in its statement on the social media platform 
$87,585He stated that the rise of to nearly $90,000 has revived the optimism of BTC investors.
The Rise of FOMO
According to Santiment, FOMO (Fear of Missing Out) is starting to reach its peak for BTC. Market participants await the potential for Bitcoin to rise to the six-figure price level.
As Bitcoin targets a new all-time high, Santiment observes that traders who took positions before the rise are using this rally to sell their coins.
“Bitcoin’s rise has been so rapid that traders are now trying to predict how long it will take us to reach $100,000 in BTC price. While this price would have been unthinkable just two to three months ago, community sentiment has changed rapidly following a 70% increase since the August 5 crash.”
The price, which has been fluctuating in a narrow range for months, has drawn short-term traders into this trap. We have often written that at some point they will be disappointed by the big breakout to the upside. That’s exactly what happened. BTC gave them a bad surprise and multi-billion dollar liquidations were triggered.
The Role of Whale Wallets
Santiment stated that over the past year, whale and shark wallets with at least 10 BTC have accumulated a total of 234,150 BTC, which is currently worth approximately $19.76 billion.
“Euforia continues higher (Bitcoin is not quite at the mid-March levels of its previous all-time peak cycle). “As long as whales continue to buy more and retail investors continue to sell their cheap coins during minor dips, prices are expected to move upward.”
The future of the Bitcoin market continues to be shaped depending on the positioning of major investors and the continuation of market dynamics.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
