Social media sentiment around Bitcoin has shifted back to optimism after the cryptocurrency climbed above $70,000 amid easing geopolitical concerns.
Market intelligence platform Santiment said discussions across X, Reddit and Telegram have become increasingly positive after US President Donald Trump suggested the conflict with Iran could soon end.
“Across X, Reddit, Telegram, and other crypto-related discussions, the crowd is encouraged by Trump's comments that the war may soon end, and oil prices reversing course,”
Santiment said.
Santiment added that periods of geopolitical uncertainty often push investors toward alternative assets such as cryptocurrencies because they trade globally and are not tied to a single financial system.
Ryan McMillin, chief investment officer at Merkle Tree Capital, said Bitcoin’s resilience during recent geopolitical tensions and continued institutional demand may also be supporting the rebound.
“FOMO frequently becomes self-fulfilling in crypto,”
McMillin said.
Despite the rising optimism, the Crypto Fear & Greed Index remained at 15, indicating extreme fear, even as analysts suggested short sellers could face pressure if Bitcoin continues climbing toward the $80,000 level.
At the time of reporting, Bitcoin price was $69,596.61.