BTC may return to $100,000 first
Some analysts are urging caution as Bitcoin’s sentiment is becoming euphoric.
André Dragosch, European Head of Research at Bitwise, notes that the firm’s Cryptoasset Sentiment Index has reached its highest level since November 2024, a level that previously aligned with local market tops.
The chart shows that past peaks in sentiment, such as those in April 2022, October 2023, and November 2024, were followed by short-term corrections or sideways price action.
This suggests growing optimism may be stretched, raising the risk of a near-term pullback despite Bitcoin’s strong long-term outlook.
Bitcoin’s price was retracing following its climb above $107,000 as of May 12, with its daily RSI alarming about overbought conditions
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