- Bitcoin rebounds to $108K as whale exercise and retail FOMO gas bullish momentum.
- Sentiment spikes into the greed zone, however technicals warn of potential short-term correction forward.
Bitcoin [BTC] has snapped again above $108K, flipping the script on the current sub-$100K scare.
A wave of optimism is sweeping by retail circles, whereas deep-pocketed gamers seem like making daring, calculated bets.
From sudden whale exercise to high-leverage conviction performs, this newest surge is stirring extra than simply value motion.
Right here’s what we’re seeing, and what it may imply subsequent.
FOMO returns, however so does a well-recognized signal
Bitcoin’s sharp rebound to $108K from $105K yesterday has sparked a surge in retail optimism — mirrored within the second-highest spike in FOMO sentiment in two weeks.
Based on Santiment, dealer temper has re-entered the “greed zone,” a territory traditionally related to market tops.
Supply: Santiment
After final week’s drop beneath $100K, many merchants panic bought. Now, social sentiment is flipping bullish simply as costs start climbing once more.
However in crypto, that form of vitality has usually preceded reversals. With sentiment outpacing fundamentals, the group might as soon as once more be organising for a contrarian transfer.
Whale wallets make their transfer
Contemporary on-chain information confirms what many suspected; whales are stepping in aggressively.
Supply: X
One pockets just opened a 20x leveraged lengthy price over $50 million, aiming to capitalize on BTC’s momentum at $106.5K.
Supply: X
Concurrently, 997 BTC flowed out of Kraken into unidentified wallets in a collection of enormous transactions, elevating eyebrows throughout the board. These are high-conviction positions from entities that not often act with out function.
Whereas retail merchants wrestle with FOMO, whales appear to be betting on a deeper upside.
Momentum builds, however warning creeps in
Bitcoin’s RSI sat at 61.13 at press time, an indication of bullish momentum with out but hitting overbought territory. Worth motion confirmed sturdy restoration candles above $108K, although as we speak’s slight pullback suggests short-term exhaustion.
The OBV at 1.74M supported continued accumulation, however a flattening slope hints that purchasing strain could also be cooling.
Supply: TradingView
If OBV and RSI diverge additional, a short-term correction may comply with. Bulls nonetheless management the pattern, however sustaining above $110K with quantity affirmation can be key to avoiding a repeat of late-Might’s rejection.
