$BTC Bitcoin remains stuck in a range, with traders’ expectations divided about the direction of the next significant move.
Several major altcoins are showing weakness, suggesting that a wider trend reversal could be at play.
Bitcoin’s BTC 103,699
volatility increased on Friday, but the price remains stuck inside the large $100,000 to $111,980 range. Market participants are divided on Bitcoin’s next breakout. In a poll, crypto analyst Matthew Hyland asked whether Bitcoin would go to $94,000 or $114,000 and the results were nearly split evenly.
The social media comments on Bitcoin are also divided equally. According to the crypto research platform Santiment, for every bearish comment on Bitcoin, there were just 1.03 bullish comments. The firm’s social media analysis found that Bitcoin’s sentiment from retail was the most bearish since the initial tariff reaction on April 6.
Santiment marketing director Brian Quinlivan said in a report that the retail fear was a promising sign as markets “historically move in the opposite direction of retail’s expectations.”