Experts from the analytical platform Santiment reported that bullish sentiments among small retail investors are still present and that large Bitcoin whales have no desire to take profits.
Despite macroeconomic uncertainty, for every negative comment on social media about the state of the Bitcoin market, there are at least two positive comments, Santiment stated.
"Bitcoin was closely approaching its historical maximum of $112,000 — and retail investor sentiment continues to maintain a bullish outlook," experts reported.
Most large holders of the first cryptocurrency have not changed their strategy and are likely waiting for Bitcoin prices to rise and the market to overheat, analysts believe.
Traders are confident that a rally is likely if the first cryptocurrency can hold the important support level of $100,000. Bitcoin has once again demonstrated its ability to recover quickly even in conditions of political uncertainty, specialists from Santiment summarized.
Previously, researchers from Coinbase Institutional identified the growing popularity of corporate reserves in the first cryptocurrency as the main trend and simultaneously a risk for the Bitcoin market.