The post Bitcoin Social Media Sentiment Turns Bullish as Traders Eye Potential $90,000 Recovery appeared on BitcoinEthereumNews.com.

Bitcoin’s social media sentiment has shifted bullish, indicating renewed confidence among traders as the cryptocurrency hovers near the $85,000 mark. Despite recent volatility, Bitcoin’s upward momentum has prompted optimism, with analysts suggesting external factors could play a significant role in its next price movements. According to Santiment, “Traders are showing optimism that BTC can regain $90K, which will likely be dependent on tariff and global economy news as the week progresses.” Bitcoin’s social sentiment flips bullish, indicating trader optimism as it hovers near $85,000. Can it reclaim $90K amidst market uncertainties? Traders Regaining Confidence in Bitcoin The latest data from Santiment’s social media tracker shows a notable shift in sentiment towards Bitcoin, scoring a bullish 1.973 as of April 16. This marks a significant change from the prior neutral stance, which was below 1.606, reflecting traders’ indecision amid Bitcoin’s fluctuations around the $85,000 price level. Historically, social media sentiment can be a precursor to market movements. As Bitcoin reached a peak of $86,000 on April 15 before dropping to $83,000 the next day, the volatility might be stirring renewed investor interest. Current trading conditions place Bitcoin at $84,390, according to CoinMarketCap, and a sustained recovery could see Bitcoin reclaiming the pivotal $85,000 price point. The Impact of Social Media on Market Sentiment Recent analysis indicates that social media discussions can heavily influence the crypto trading environment. According to Santiment, the latest bullish sentiment may be attributed to optimism surrounding potential future price movements. In the last 24 hours, prominent crypto opinions have emerged on social media platforms, reinforcing the notion of a bullish turnaround. Prominent figures like Samson Mow have been vocal, suggesting that Bitcoin reaching $500,000 is within the realm of possibility. Furthermore, trader comments highlight that increased global money supply may eventually funnel into Bitcoin, driving prices higher.…

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Filed under: News - @ April 17, 2025 8:25 am