Analysis Company Claims the Market Has “Entered FOMO Level”, Shares Its Expectations for Bitcoin

Krypto para analysts from analysis firm Santiment, Bitcoin’de They shared their opinions after the last rally.

According to the analysis company, BTC surpassed $66,000 with its recent rise and created excitement among traders. Santiment argued that the event that caused this week’s pump to be felt most in altcoins was the profit distributions following the rise of BTC in the last three weeks.

Santiment Analysts Claim That Bitcoin Price Has Reached FOMO Level and A Correction May Come

Santiment warned that the patience of the bulls could be tested as the general sentiment in the cryptocurrency market exceeds FOMO levels for Bitcoin. This typically coincides with upcoming local peak levels, he added. He said that the local peak could come today, this weekend or in the coming weeks, and that it depends on the behavior of the whales at these levels.

Analysts think that the cryptocurrency trading community is more likely to experience a correction as Bitcoin price rises to the greed level. They show around 63,000 dollars as the threshold for the greed level. According to analysts, around $53,000 would cause the community to fall into the fear zone, which could result in seeing more possibilities on the bullish side of the market.

They defined the range between $63,000 and $53,000 as a neutral zone and they think that the market behaves less predictably in these areas.

However, Santiment analysts also have an interesting claim. According to analysts, they do not believe that the Bitcoin price will become purchasable again from around $50,000 or falling to the $60,000 region. They think the only way this will happen is for the world economies themselves to raise alarm signals.

At the time of writing this article, the Bitcoin price has experienced a slight retreat from its peak of $66,000. Currently, BTC is trading at $65,847 and is up 4.3% in the last week. on the other side Ethereum Interestingly, the amount of increase was 5.75% and, unusually for a long time, ETH performed better than BTC this week.

The most rising altcoin of the last week is thanks to the hype around memecoins. Shiba Inu (SHIB) happened. SHIB is up an impressive 38% and now has a market cap of $11 billion.

*This is not investment advice.