Bitcoin Sentiment Turns Bullish Amid Price Volatility at $85K

Santiment’s analysis indicates a bullish sentiment shift among Bitcoin traders as optimism grows around the cryptocurrency’s ability to reclaim the $90,000 mark. Despite fluctuating around $85,000, increased activity on social media reflects confidence in Bitcoin’s future price movements, although the broader market sentiment remains cautious. Notably, the Crypto Fear & Greed Index indicates fear, contrasting recent bullish predictions from certain analysts and traders.

Recent analysis from the crypto analytics platform Santiment indicates a shift towards bullish sentiment among Bitcoin traders, even as the cryptocurrency’s price fluctuates around $85,000. On April 16, Santiment noted an increased optimism that Bitcoin could reclaim the $90,000 mark, contingent upon forthcoming tariff and global economic developments. This positive sentiment comes following Bitcoin’s last breach above $90,000 on March 6.

Santiment’s social media tracker recorded a bullish sentiment score of 1.973 on April 16, compared to a neutral score below 1.606 previously. The improved outlook aligns with traders’ renewed confidence as Bitcoin’s price had been variably trading above and below $85,000. Following a peak of $86,000 on April 15, Bitcoin subsequently dipped to $83,000, with a current valuation of $84,390 as reported by CoinMarketCap.

If Bitcoin stabilises above the $85,000 threshold, approximately $254 million in short positions could face liquidation risks, according to data from CoinGlass. The last 24 hours have seen several crypto influencers making bullish statements; for instance, Samson Mow’s firm, Jan3, suggested that a $500,000 Bitcoin is a plausible target, while trader “Ted” posited that increasing global money supply will ultimately favour Bitcoin.

Despite this growing optimism, other sentiment indicators such as the Crypto Fear & Greed Index reflect a bearish market sentiment, currently posting a “Fear” score of 30 out of 100. This caution follows a notably weak performance for the crypto market in the first quarter of 2025, where Bitcoin and Ether experienced declines of 11.82% and 45.41% respectively, marking a downturn in a historically strong quarter for both assets.