Bitcoin’s $94.6K Rebound: Is Retail FOMO Getting Out of Control?

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Bitcoin (BTC) climbed to its highest level in three weeks on Tuesday, amidst a fresh wave of bullish momentum. The latest upswing, which briefly pushed Bitcoin to $94,600, sparked a surge in trader optimism.

But high retail greed is historically associated with local tops or cooling periods.

Wave of Greedy Retail Behavior
According to the latest findings by Santiment, social data from X, Reddit, Telegram, and other platforms revealed a sharp rise in mentions of “higher” and “above.” The analytics platform identified FOMO-driven expectations for further gains, which often coincide with price flattening or local tops. On the other hand, calls for “lower” suggest fear.

It is important to note that markets often move in the opposite direction of retail crowd behavior. Previous instances have shown that when retail suddenly becomes very bullish, Bitcoin often stalls or corrects shortly after. Hence, the current observation could mean that the cryptocurrency may be nearing a short-term top or a period of sideways or downward movement.

Echoing similar concerns, analyst Markus Thielen said that Bitcoin is unlikely to see a major price breakout in December. In the latest Matrixport note, Thielen explained that implied volatility has been steadily falling, meaning the market expects smaller price swings ahead. With the FOMC meeting seen as the last big potential catalyst, volatility is likely to drop even further once it passes.


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