Bitcoin’s price rallied towards $80,000 this week, but analysts warn that the surge was accompanied by a rapid shift in social sentiment from fear to “ultra FOMO,” which may signal caution. On-chain data firm Santiment suggests a sustained break above the key resistance level would be more convincing if market optimism cools slightly. Meanwhile, the recent rally saw significant short liquidations, raising questions about the durability of the price movement.
Bitcoin’s social mood swung from deep fear to what Santiment calls “ultra FOMO mode” in roughly 72 hours this week. The firm now views that crowd enthusiasm as a warning, not a green light.
Bitcoin had stalled near $76,000 on Monday, with negative commentary flooding social platforms. By Thursday, it had recovered above $78,000 and was approaching $80,000 again.
Santiment stated that the sentiment shift presents a clear caution signal. “Prices can continue to rally, and a breach above this resistance level would be massive in bringing in new and returning traders,” the firm wrote.
“However, it will ideally happen when optimism calms down just slightly,” Santiment added. U.S. spot Bitcoin ETFs recorded $223 million in net inflows on April 23, according to data from Farside Investors.
Analyst Carmelo Alemán argued the rally from $76,000 to $79,400 was largely driven by futures activity. Open interest increased from about $24.9 billion to $28 billion during the move.
Short liquidations across Bitcoin and Ethereum totaled over $1.1 billion concurrently. This structure can leave the market vulnerable to reversals if spot buying pressure fades.
