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Bitcoin sentiment turns bullish as price hovers near $85K: Santiment

Posted on by Audrey

With a score of 1.973, Santiment said its sentiment tracker entered optimistic zone.

According to analytics firm Santiment, social media opinion around Bitcoin has become favorable despite ongoing price fluctuation around the $85,000 level.

The company’s most recent data shows that traders are becoming more optimistic despite erratic overall market indications.

Santiment stated in a post on X on April 16 that its sentiment tracker, which measures the tone of social media posts on cryptocurrencies, entered optimistic territory with a score of 1.973. This is a change from the previous neutrality, when price uncertainty caused scores to hover below 1.606.

Bitcoin pulls back to $84K after briefly hitting $86K

On April 15, Bitcoin (BTC) temporarily reached $86,000 before falling down to $83,000 the next day. According to CoinMarketCap statistics, it is currently trading close to $84,390.

Approximately $254 million in short positions might be at stake, according to CoinGlass, if Bitcoin makes a strong comeback above $85,000, according to market experts.

Prominent crypto speakers on X have reflected the change in opinion.

A $500,000 Bitcoin objective is “not crazy,” according to Jan3, a firm started by Bitcoin supporter Samson Mow.

Trader Ted was similarly upbeat, citing the rise of the world’s money supply as a possible boost for Bitcoin. “Just watch and wait,” he said.

According to Titan of Crypto, Bitcoin is still in a general upward trend and is continuously making greater highs and higher lows, according to Dow Theory.

But not every emotion indicator is in agreement. With a score of 30 out of 100, the Crypto Fear & Greed Index, which aggregates market data and social signals, now reads “Fear.”

The conflicting signals come as the cryptocurrency sector as a whole tries to pick up steam after a poor first quarter.

Q1 2025 saw losses for both Bitcoin and Ethereum of 11.82% and 45.41%, respectively. This is in sharp contrast to the generally robust first-quarter performance in prior years.

Bitcoin could face extended consolidation despite bullish hype: 10x research

According to reports, Markus Thielen, head of research at 10x Research, has suggested that Bitcoin could be about to enter a protracted consolidation phase.

Even if many experts predict fresh all-time highs by mid-year, Thielen cautioned in a recent market report that short-term technical signs are presenting a more cautious picture.

In support of his claim that the market is exhibiting characteristics more appropriate for a late-cycle peak than the start of a fresh bull run, Thielen cited the Bitcoin stochastic oscillator, a technical indicator that gauges momentum.

Some experts are more positive than Thielen, who advises prudence.

Real Vision’s lead cryptocurrency analyst Jamie Coutts and economist Timothy Peterson predict that Bitcoin will reach new heights in the second quarter.

Matt Hougan, the chief investment officer of Bitwise, reaffirmed this week his December forecast that Bitcoin would reach $200,000 by the end of 2025.

According to Hougan, recent changes in U.S. trade policy, especially those brought about by former President Donald Trump’s increased tariff campaign, may work in Bitcoin’s favor.

Crypto whales bag $20M in AAVE & UNI. Are DeFi tokens eyeing price rally?

According to statistics from Crypto Whale, AAVE and UNI coins worth little over $20 million were recently bought. Can prices rise in the face of more purchases?

Despite the continued market uncertainty, recent crypto whale data around DeFi tokens have greatly boosted investor excitement by indicating that price increases for specific coins are coming. On Thursday, April 17, whale data showed that major investors had more over $20 million in AAVE and UNI. Despite the general market downturn, these accumulations have sparked a bullish market storm, highlighting purchasing demand on the assets.

Crypto whales stack $20M in DeFi coins igniting optimism

Spot On Chain data indicates that cryptocurrency whales are covertly amassing DeFi tokens through over-the-counter transactions. According to the information, two new wallets just acquired $20.11 million worth of the aforementioned coins.

The wallet address “0x3bb..” purchased UNI from Cumberland for $4.28 million. Furthermore, $15.83 million worth of AAVE was obtained from the same OTC market using the same wallet with the address “0x4f7..” These enormous accumulations have indicated that DeFi cryptos would likely see price increases in the future.

For background, following such whale accumulations, the typical market emotions are still quite optimistic, indicating purchasing pressure on an asset and market confidence. As a result, investors and traders expect these DeFi coins to see price increases soon.

How are they performing today?

At the time of posting, the price of AAVE was trading at $138.81, up around 3.5%. After plunging to $130.43 the previous day, the DeFi token rose. Notably, this increasing activity could be consistent with both the substantial purchases made by the crypto whales and more general tendencies.

A significant AAVE repurchase plan and liquidity boost were also suggested by the token’s community last month, according to reports. The goal of this upgrade is to improve the coin’s pricing and market dynamics. In turn, this evolution is consistent with the whale buildup.

Conversely, the price of UNI increased by around 2.5 percent and was trading at $5.27. Over the previous day, the DeFi cryptocurrency fell as low as $5.05.

U.S. stocks in freefall, NVIDIA down 8.49% as U.S. hits China with AI chip restrictions

Tech equities suffer the most as Nvidia faces a $5.5 billion revenue loss as a result of export restrictions on China, while U.S. companies suffer significant losses.

U.S. markets are plunging once more following this week’s comparatively mild volatility. This time, Nvidia and tech companies were in the forefront of the drops. The Nasdaq was down 606.49 points, or 3.61%, at 16,216.68 on Wednesday, April 16.

However, as investors became pessimistic about trade war concerns, the rest of the market also weakened. The Dow Jones traded at 39,742.32, down 613 points, or 1.55%. The S&P 500 was down 2.33%, or 125.78 points, at the same moment.

With a net 42% of investors anticipating a worldwide recession, the most recent Bank of America survey indicates that recession concerns are intensifying. Interestingly, this number is at its fourth-highest point in 20 years.

Nearly 61% of investors think that the USD will decline over the next 12 months, thus they are also trying to reduce their exposure to the currency. Gold and other safe-haven assets are increasing at the same time.

Bitcoin (BTC), which fell to a daily low of $83,100 before leveling out at $84,233, was similarly affected by the stock market fall. In contrast to the U.S. market, Bitcoin remains comparatively stable despite its increased volatility.

Nvidia leads market declines

Following an estimate of a significant revenue loss, Nvidia led the falls, falling 8.49% to $102. In particular, the business estimated that it would lose $5.5 billion in sales in the first quarter of 2025 as a result of Washington’s new limits on exporting AI chips to China.

The business claims that the U.S. government told it that in order to sell its H20 chips to China, it would require an export license. AI models like OpenAI’s ChatGPT are trained using these cutting-edge AI processors. The possibility that China may use these chips to train its own AI models, similar to DeepSeek’s, worries Washington.

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