As Bitcoin rebounds to $85K, a bullish sentiment has swept across the crypto market in the post-tariff era. Santiment highlights the surge in optimism to the “tariff easing” announcement over the weekend, although the details of these exemptions are not quite clear. Despite that, BTC, in particular, received the highest level of positive (vs. negative) commentary.
Supporting this narrative is Santiment’s chart that shows the “Ratio of Positive vs. Negative Comments Toward Bitcoin Across Social Media.” The uptick in this ratio suggests a significant rise in positive commentary.
There has been an increased level of bullishness pouring in from the crypto crowd Monday. Ever since the (still not fully clarified) tariff exemptions announced over the weekend, Bitcoin in particular has had a flood of optimistic calls.
The chart also shows different “Crowd Zones” marked by bullish, polarized, and bearish. The positive shift in market sentiment from the day the tariffs were first announced, twelve days prior, has pushed the commentary to the “Crowd Bullish Zone.” The BTC price surging to $85.8k also reinforces the bullish outlook.
Bitcoin Eye $109K Target in Sight, But FOMO Persists
However, market experts caution that retail traders are more susceptible to market swings, and “FOMO and greed” might potentially take over once Bitcoin nears $90,000 this week.
“This is the highest level of positive (vs. negative) commentary since the day before Trump announced tariffs. Retail traders will always have a slight reactionary bias toward $BTC and altcoins after market caps swing a certain direction, so watch for FOMO and greed to take over if prices approach $90K this week,” wrote Santiment.
From the technical perspective, Bitcoin is poised for a breakout from a falling wedge pattern in the 3-day chart. Earlier, the $73K zone acted as a resistance level and is now seen as potential support. If the bullish momentum continues, analysts predict a long-term price target to be around $109K.
