Bitcoin hits 16-month high ‘positive sentiment’ as price sits near $68K
According to Santiment data, the term “Bitcoin” is being used more positively on social media now than at any time in the past 16 months.
Bitcoin’s recent price rebound has shifted traders’ sentiment to levels not seen in 16 months, according to data tracking positive and negative social media comments about Bitcoin.
“Bitcoin’s +20% 3-week price rally has left traders feeling a whole lot more bullish than they were at the beginning of the month,” Santiment wrote in a July 27 X post, as Bitcoin (BTC) currently trades at $67,708, up 6.22% since July 25, according to CoinMarketCap data.
Santiment explained that according to its Weighted Sentiment Index — a metric that measures Bitcoin mentions on X and compares the ratio of positive to negative comments — is at a “16-month high positive sentiment.”
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Author: Ciaran Lyons
