As Bitcoin (BTC) continues to trade in the mid-$80,000 range, optimism on social media appears to be strengthening around the leading cryptocurrency. Crypto analysts suggest that BTC may be gearing up for its next move upward, with some eyeing a potential target of $95,000.
Bitcoin Sentiment Improves Despite Tariff Uncertainty
Macroeconomic uncertainty continues to brew amid rising tariff tensions. Still, BTC has remained relatively stable in an increasingly volatile global environment, hovering around the $84,000 mark over the past few days.
In a recent post on X, crypto market intelligence platform Santiment noted that social sentiment toward BTC is on the upswing. The platform shared the following chart illustrating how positive BTC-related news has outweighed negative coverage over the past week. The post stated:
Cryptocurrency markets are enjoying a mild rebound, and Bitcoin has been repeatedly crossing above & below $85K. Traders are showing optimism that $BTC can regain $90K, which will likely be dependent on tariff & global economy news as the week progresses.
Crypto analyst Titan of Crypto also noted that BTC is nearing an “inflection point” on the hourly chart. The analyst shared a chart showing Bitcoin consolidating within a symmetrical triangle pattern, and highlighted that BTC’s Relative Strength Index (RSI) remains above 50 – indicating potential momentum to break resistance.
Meanwhile, well-known analyst Ali Martinez pointed out that the TD Sequential indicator is flashing a buy signal on the BTC weekly chart. Martinez added that a sustained close above $86,000 could pave the way for a rally toward $90,000 – or possibly even $95,000.
Fear & Greed Index Still Shows Warning
Despite improving sentiment on social platforms, the Fear & Greed Index remains at 30 out of 100, signaling that many investors are still cautious about entering the crypto market. That said, several technical indicators continue to point toward a potential rally.
Notably, Bitcoin’s Moving Average Convergence Divergence (MACD) recently flashed a bullish crossover on the three-day chart – raising hopes for a push to new all-time highs in the medium term.
In addition, on-chain data reveals that whales – large, experienced BTC investors – haven’t reacted strongly to the tariff-related panic. This aligns with insights from crypto analyst CryptoGoos, who cautioned against overreacting to short-term volatility driven by trade war headlines.
However, not all analysts are bullish. CryptoQuant CEO Ki Young Ju recently stated that the BTC bull cycle might be over. At press time, BTC trades at $84,149, down 0.2% in the past 24 hours.
Featured Image from Unsplash.com, charts from X and TradingView.com
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