Bitcoin at $85K Sparks Bullish Chatter on Social Media, Santiment Reports

Andrew Chen | Updated on April 17, 2025
Bitcoin (BTC)

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Despite a rocky start to the second quarter, Bitcoin sentiment on social media has flipped to bullish, according to crypto analytics firm Santiment. This shift in mood comes as Bitcoin continues to swing between $83,000 and $86,000, failing to break through the critical $90,000 resistance level since early March.

Santiment’s data shows that trader sentiment entered “bullish territory” on April 16 with a score of 1.973, a significant jump from previous neutral levels. This optimism is driven by growing hopes that Bitcoin (BTC) could soon reclaim the $90,000 mark, potentially triggered by upcoming global economic and tariff developments.

“Traders are showing optimism that BTC can regain $90K,” Santiment posted on X. The platform noted that Bitcoin’s price fluctuations around $85K had previously kept sentiment in a neutral zone.

At the time of writing, Bitcoin is trading at $84,390, having briefly touched $86,000 on April 15 before retracing. If BTC crosses back above $85K, an estimated $254 million in short positions may be liquidated, according to CoinGlass data.

Bullish commentary has also surged across crypto Twitter. Jan3, the firm led by Bitcoin advocate Samson Mow, declared that BTC reaching $500,000 “isn’t crazy.” Trader Ted pointed to rising global liquidity as a catalyst for future BTC gains, while Titan of Crypto emphasized Bitcoin’s continued uptrend under Dow Theory, marked by higher highs and higher lows.

Still, not all indicators are aligned. The Crypto Fear & Greed Index currently registers a “Fear” score of 30, reflecting lingering caution after Bitcoin and Ethereum’s weak Q1 performance, with BTC and ETH dropping 11.82% and 45.41% respectively.

As global economic factors unfold this week, traders are watching closely. With bullish sentiment brewing and a potential short squeeze on the horizon, Bitcoin’s next major move could set the tone for Q2.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Also Read: US Government’s Bitcoin Reserve Plan: How Buying 1 Million BTC Could Lead to $1 Million Bitcoin

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