#BitwiseBitcoinETF Bitcoin’s recent price action has been marked by a struggle to maintain the bullish momentum needed to propel BTC higher.

With traders calling for a sharp rally to $110,000, the market appears hesitant, suggesting that a significant rally could be some time away.

Bitcoin Traders Upbeat

Traders remain bullish on Bitcoin reaching $110,000, with Santiment data highlighting a surge in social dominance around the target. However, historical trends suggest that BTC tends to rally after mentions of such prices begin to decline. This pattern suggests that while a rally is possible, it could take a few days to materialize.

Increased social dominance indicates a market’s desire for another rally, but heightened excitement often precedes a period of stagnation. For Bitcoin to maintain its upward momentum, market sentiment must stabilize, allowing organic growth, rather than speculative pressure, to drive the price higher.