Bitcoin (BTC) break above three-week high...... The rebound is strong in the spread of FOMO

Bitcoin (BTC) price managed to bounce back, hitting a new three-week high. On-chain analysis firm Santiment commented that the rebound is a “much-needed recovery momentum” in the market, and analysts believe that investors are once again falling into the phenomenon of blindly investing FOMO( fear of missing ) out on opportunities.

According to TradingView data, on the 2nd local time, the price of Bitcoin, benchmarked by Coinbase, soared to $94,625 ( about 139.28 million won ) at the close, the highest level since November 25. This sharp rise is interpreted as a signal of a recovery in investment sentiment after short-term adjustments.

“Mentions of words such as ‘rise’ and ‘breakthrough’ on social media are surging,” Santiment said through X( original Twitter ), adding that investors’ anticipation is rapidly recovering. Analysts believe that this psychological change may have a greater impact on the market than the price increase itself.

This sharp rise comes as the main positive news that has led the bull market has weakened recently. The industry is divided on whether this is a temporary rebound or the beginning of a new round of gains. However, on-chain data also captures the trend of expanding trading volume and increasing holders, indicating that positive momentum is gradually recovering.

Article Summary by TokenPost.ai

🔎 Market interpretation

Bitcoin has broken out of the $94,000 range and is reviving investor sentiment. The spread of social media optimism has bolstered market expectations for further upside potential.

💡 Strategic Points

Both on-chain metrics and price action are showing signs of recovery momentum. After the short-term adjustment, it is worth considering the timing of entry.

📘 Explanation of terms

FOMO( Fear of missing out ): The phenomenon of blindly investing because of fear of falling behind in a rising market

On-chain analytics: A way to analyze market trends or investment psychology using data on the blockchain

TP AI Considerations

This article uses a TokenPost.ai-based language model for article summarization. The main content of the text may be omitted or inconsistent with the facts.