{"id":53604,"date":"2025-07-09T04:01:21","date_gmt":"2025-07-09T04:01:21","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=53604"},"modified":"2025-07-09T04:01:21","modified_gmt":"2025-07-09T04:01:21","slug":"crypto-traders-starting-to-salivate-as-bitcoin-inches-back-toward-110k","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=53604","title":{"rendered":"Crypto traders \u2018starting to salivate\u2019 as Bitcoin inches back toward $110K"},"content":{"rendered":"

Santiment says the ratio of bullish to bearish Bitcoin comments on social media has hit a three-week high as traders grow more optimistic about Bitcoin breaking above $110,000.<\/p>\n

Crypto traders are becoming increasingly bullish on social media over Bitcoin\u2019s chances of reclaiming $110,000, but the surge in optimism isn\u2019t always a good sign, says blockchain analytics platform Santiment.\u00a0<\/p>\n

\u201cIt\u2019s pretty clear that the crowd is starting to salivate over a potential $110K+ Bitcoin market value,\u201d Santiment analyst Brian Quinlivan told Cointelegraph.\u00a0<\/p>\n

Bullish Bitcoin comments surge to three-week high<\/h2>\n

Santiment data shows that for every bearish comment on Bitcoin there are now 1.51 bullish comments \u2014 the highest sentiment ratio in the past three weeks. The data was pulled from multiple platforms, including X, Reddit, Telegram, 4chan, BitcoinTalk and Farcaster.<\/p>\n

Quinlivan noted that spikes in bullish commentary on June 11 and July 7 were both followed by declines in Bitcoin\u2019s price. Source: Santiment<\/em><\/figcaption><\/figure>\n

While rising sentiment may seem positive, Quinlivan cautioned that similar spikes in trader optimism were followed by Bitcoin price drops on both June 11 and July 7.<\/p>\n

\u201cAs we know, prices move in the opposite direction of the crowd\u2019s expectations as retail perpetually loses money from overly emotional decisions,\u201d he said.<\/p>\n

Quinlivan pointed to trading activity on Monday, where an uptick in bullish commentary coincided with Bitcoin hitting a local top of $109,595, before quickly retracing to $107,681.\u00a0<\/p>\n

\u201cWe saw clear signs that retail was buying into the rising momentum of Bitcoin’s price,\u201d he said.<\/p>\n

\u201cMild pullback\u201d on the table for Bitcoin before a new all-time high<\/h2>\n

Quinlivan believed Bitcoin would likely see a \u201cmild pullback\u201d before it breaks through its all-time high of $111,970, which it reached on May 22. Bitcoin is trading at $108,791 at the time of publication, up 2.84% over the past seven days,\u00a0according\u00a0to CoinMarketCap data.<\/p>\n

Bitcoin is trading at $108,770 at the time of publication. Source:\u00a0<\/em>CoinMarketCap<\/em><\/figcaption><\/figure>\n

Quinlivan also noted that Bitcoin whale wallets \u2014 those holding between 10 and 10,000 BTC \u2014 have shown little recent activity, which could signal caution in the market.<\/p>\n

Related:\u00a0<\/strong><\/em>Bitcoin price gained 72% and 84% the last two times BTC holders did this<\/strong><\/em><\/p>\n

\u201cFor now, these wallets have been somewhat suspiciously flat,\u201d Quinlivan said, adding that whales have sold off 14,140 BTC over the past week.<\/p>\n

\u201cWhen they accumulate, prices often follow closely. When they dump or even just temporarily stop accumulating, it often signals that market values across crypto may see some declines.\u201d<\/p>\n

However, he emphasized that the long-term trend remains bullish, pointing to six months of steady accumulation by whales and sharks.<\/p>\n

Macro headwinds lie ahead<\/h2>\n

Javier Rodriguez-Alarcon, chief commercial officer at digital asset trading firm XBTO, told Cointelegraph that several upcoming events could test the overall crypto market\u2019s resilience in the weeks ahead.<\/p>\n

While his earlier concerns about the US tariff deadline tied to US President Donald Trump have eased following its delay to Aug. 1, Rodriguez-Alarcon highlighted other macroeconomic factors that could still influence Bitcoin\u2019s price trajectory.<\/p>\n

He said the release of minutes from the Federal Reserve\u2019s rate-setting committee on Wednesday may have an impact on the broader crypto market and cause \u201csignificant headwinds for risk assets.\u201d<\/p>\n

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Santiment says the ratio of bullish to bearish Bitcoin comments on social media has hit a three-week high as traders grow more optimistic about Bitcoin breaking above $110,000. 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