The overall number of crypto market participants calling for Bitcoin to enter new all-time high territory has tapered off, which crypto sentiment platform Santiment points out is a positive signal.
“Calls for Bitcoin to hit $150k to $200k, and even $50k to $100k, are drying up,” Santiment said in a report on Friday.
“This reduction in FOMO and ‘Lambo’ memes is actually a healthy market indicator. It shows that retail optimism is fading,” Santiment added.
Bitcoin sentiment bumps up to ‘neutral’
While prominent Bitcoin (BTC) advocates such as BitMEX co-founder Arthur Hayes and BitMine chair Tom Lee were openly calling for Bitcoin to reach as high as $250,000 during 2025, the asset’s price ended up reaching $126,100 in October, before entering a downtrend that ultimately led to ending the year lower than where it started.
The downtrend continued into the new year, with Bitcoin dropping to near $60,000 on Feb. 6, but has since edged up to $67,847 at the time of publication, according to CoinMarketCap.
Santiment said that the sentiment around Bitcoin, measured by the ratio of bullish to bearish social media comments, has recovered from “extreme bearishness” to “neutral territory,” which may make it harder for market participants to make trading decisions.
“Better to avoid trading in these scenarios or at least discount the significance of sentiment metrics in your analysis,” Santiment said.
Meanwhile, other indicators suggest that crypto investors are still fearful.
The Crypto Fear & Greed Index, which measures overall crypto market sentiment, stayed in “Extreme Fear” territory on Saturday, posting a score of 8, suggesting investors are extremely cautious.
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However, Santiment said the overall activity on the Bitcoin network is “flashing warning signs,” explaining that transaction volume, active addresses, and network growth are all “steadily declining.”
“These utility indicators suggest the network is being used less frequently. While not immediately bearish, this dormancy implies traders are sitting on their hands,” Santiment said, arguing that market expansion would show growing user participation.
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