According to data from on-chain analytics platform Santiment, FOMO levels for the leading cryptocurrency Bitcoin have skyrocketed to levels last seen in 2024.
Crypto sentiment has swung sharply into bullish territory as mentions of Bitcoin and crypto heading higher or remaining bullish now far outpace bearish talk as BTC climbed toward $87,000, fueled by a major short squeeze.
The rally carries clear momentum, as an estimated $648 million in short positions were liquidated over the past 24 hours, while overall crypto trading volume rose 39%. The forced buying pushed prices higher and encouraged late entrants to jump in.
Meanwhile, the one-sided optimism warrants caution as open interest still rose 7.6% to around $156 billion even after the shorts were cleared out, indicating traders are adding new leverage rather than stepping back.
Notably, the Crypto markets do not often favor crowded trades; historically, extreme fear often marks exhaustion lows, while widespread confidence that prices will keep rising can form near local tops.
The current surge in optimism does not ensure a reversal, but the risk-reward looks less favorable than it did when fear dominated last week.
Bitcoin has officially entered a new bull market
The new development comes as the big bull crossed above its 365-day moving average. According to Cryptoquant data, the asset initially traded at $80,500 but now trades near $86,000. This crossover stands as the key technical signal that has marked the start of Bitcoin bull markets in previous cycles. It is also the first time price has reclaimed the 365-day MA since March 2023.
The 365-day moving average has a strong track record as a cycle-defining level: closing above it confirmed the bull markets of 2019 and 2023, and closing below it confirmed the bear markets at the end of 2021 and in November 2025. That history is why this reclaim carries significant weight rather than looking like a simple bounce.
On-chain data pointed the way first, with CryptoQuant’s Bull Score Index and Bull-Bear Market Cycle Indicator already shifting into the early stages of a new bull market since at least mid-August. The 365-day Moving Average crossover now confirms what those on-chain signals had been indicating for weeks.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.