Oh, here we go. Crypto Twitter is foaming at the mouth again, convinced Bitcoin’s about to blow past $110K like it’s sprinting for the last train home. And, of course, some lovely killjoys at something called Santiment are waving red flags like nannies at a toddler rave.
According to Brian Quinlivan, Santiment’s resident fun sponge, “It’s pretty clear that the crowd is starting to salivate over a potential $110K+ Bitcoin market value.” I’m picturing him saying this from a bunker made of spreadsheets, clutching his pearls.
Bullish Bitcoin Chatter Hits “Peak Delusion”
Santiment claims bullishness is at a three-week high, with 1.51 positive comments for every sad bear moaning into their keyboard. This absolutely scientific data is brought to you courtesy of X, Reddit, Telegram, 4chan, BitcoinTalk, and—wait for it—Farcaster. Yes, Farcaster, because if there’s anyone you want market wisdom from, it’s a platform that sounds like a Harry Potter spell.
But—plot twist!—when the crowd gets cocky, the universe says “not today, pal.” Quinlivan reminds us that the last time everyone got this giddy, Bitcoin promptly tripped over its own hype: a spike in optimism came right before price drops in June and July.
“Retail perpetually loses money from overly emotional decisions,” says Quinlivan, basically subtweeting all of us who bought the top while compulsively refreshing charts. He points out that after bullish energy spiked on Monday, Bitcoin tap-danced to $109,595, then did a trust fall to $107,681. Magical stuff.
Translation: When everyone’s shouting ‘To the moon,’ the rocket’s probably strapped to a cartoon anvil.
Prepare Yourself for… a “Mild Pullback” (Yes, Again)
Will Bitcoin break its all-time high of $111,970? Quinlivan says maybe, but first, there’s likely a “mild pullback.” (You know, just a little stumble—nothing like the existential dread from checking your portfolio in 2022.) At press time, Bitcoin is cruising at $108,791 and up 2.84%. Will it last? Place your bets, but maybe keep your therapist on speed dial.
On the whale front: wallets holding 10 to 10,000 BTC are suspiciously still, like they’ve all gone on a silent meditation retreat or are plotting the next rug pull. These big boys collectively dumped 14,140 BTC last week, so maybe don’t break out the champagne just yet. Quinlivan, ever the optimist, points out whales and sharks have been accumulating for six months. So, you know, maybe don’t panic. Or do. Who am I to judge?
Big Bad Macro Stuff Looming
Javier Rodriguez-Alarcon from XBTO pipes up with the kind of cheery news only someone called “chief commercial officer” can deliver. The US tariff deadline is delayed (pop the confetti), but don’t relax: there’s still the release of Federal Reserve minutes to look forward to, which could “cause significant headwinds for risk assets.”
Translation: Whether it’s memes on Farcaster or Jerome Powell’s bedtime stories, something is coming for your laser eyes. Diamond hands? Just remember—they’re sweaty.
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2025-07-09 06:11