Social media sentiment toward Bitcoin has rebounded to optimism as the cryptocurrency recovered to over $70,000. This shift is driven by U.S. President Donald Trump’s comments suggesting the war with Iran could be nearing an end, according to data from market intelligence platform Santiment. The crowd across platforms like X, Reddit, and Telegram is reportedly encouraged by the potential end of conflict and a reversal in oil prices.
Social media sentiment over Bitcoin shifted back to optimism as Bitcoin recovered to over $70,000 on Tuesday. This recovery was driven by U.S. President Donald Trump’s recent comments that the war with Iran could be nearing an end.
Market intelligence platform Santiment shared data showing the number of positive social media discussions has been steadily increasing after tanking on Monday. “Across X, Reddit, Telegram, and other crypto-related discussions, the crowd is encouraged by Trump’s comments that the war may soon end, and oil prices reversing course,” Santiment said.
The platform added in a separate post that periods of uncertainty often trigger a search for alternative assets. It noted crypto markets tend to react quickly because they trade globally around the clock and are not tied to any single government or financial system.
Tensions in the Middle East escalated last month after the U.S. and Israel launched strikes against Iran. In response, Iran retaliated against several neighboring countries.
Trump’s comments on Monday signaled the war could be wrapping up soon. He later said in a Truth Social post that if Iran did anything to slow the supply of oil, the U.S. would ramp up its military pressure on the country.
Ryan McMillin, chief investment officer of Australian crypto investment manager Merkle Tree Capital, told Cointelegraph that several other factors might also be driving a rebound in positive sentiment among traders. Bitcoin’s strong resilience to geopolitical shocks and institutional momentum from companies such as Strategy could also be contributing, along with Bitcoin holding above its February lows.
“Bitcoin has shown real strength through tough conditions, with inflation cooling, oil risk aside, adding tailwinds so too a new Fed chair only months away and the Clarity Act inching closer to implementation,” McMillin said. He added that shorts are vulnerable and liquidity on the short side could get squeezed toward $80,000 before a true higher/lower decision point.
Despite social media discussions trending positively, the Crypto Fear & Greed Index remained at 15, indicating it remains in “extreme fear.” That index measures overall crypto sentiment and uses several sources for its ratings, including Bitcoin volatility, dominance, market momentum, social media and Google Trends data.
Meanwhile, Google Trends data for “Bitcoin” returned a score of around 71 as of Wednesday, down from its peak of 100 on March 5. “FOMO frequently becomes self-fulfilling in crypto. Sentiment flips from fear to greed attracts fresh buyers, boosts volumes, and drives short-term upside, as we’ve seen in past cycles,” McMillin said.
He added that an oversold technical setup after five months of declines has left Bitcoin heavily oversold. This primes it for a relief rally at very least, following five straight months down from the $126,000 all-time high in October.
