- Bitcoin hit a new ATH at $123.1K, but a huge spike in social media chatter could hint at a short-term top, according to Santiment.
- Analyst Brian Quinlivan warns that similar social spikes preceded dips, suggesting a possible pullback once hype cools off.
- Others like CryptoQuant and Galaxy Digital remain bullish, expecting either further upside or short consolidation before another push higher.
Bitcoin’s wild ride to fresh all-time highs has gotten everyone talking—literally. This past week, nearly half of all crypto-related chatter on social media was about BTC. But while the hype’s still hot, some analysts say the spotlight might be a bit too bright, too soon.
According to Santiment’s Brian Quinlivan, Bitcoin’s recent climb past $123.1K—yep, the highest ever—was matched by a pretty insane spike in social dominance. Basically, 43% of all crypto convos were about Bitcoin right when it peaked. He reckons that might be a red flag.
Is All This Chatter a Sign of FOMO?
Quinlivan’s take is kinda simple: when retail traders start flooding in and everyone’s shouting “Bitcoin!” at once, it usually means the top’s near (at least temporarily). He’s calling this behavior classic FOMO.
That’s in contrast to Bitwise’s André Dragosch, who just days earlier said retail interest hadn’t shown up yet. But shortly after that comment, BTC shot to $123K on Binance—and then slid back to $117K. Coincidence? Maybe. But history says otherwise.
Quinlivan even points back to earlier this summer—June 11 and July 7—when similar spikes in optimism were followed by quick pullbacks. His advice? Chill a bit. Let the euphoria settle, then watch for another entry.
Still Room to Run?
Not everyone’s on the pullback train, though. Some analysts think there’s more gas in the tank. Axel Adler Jr from CryptoQuant says we haven’t hit that usual “market’s too hot” peak signal yet. According to him, we’re probably not done.
Galaxy Digital’s Michael Harvey sees a possible pause before the next leg up. He’s calling for some short-term sideways action—a classic consolidation—but believes another rally could land before July’s out.
So, maybe sit tight… or maybe not. BTC does what it wants.
