[Analysis] "Market Sentiment Optimistic... A Double-Edged Sword for Future Bitcoin Prices"

There is an analysis suggesting that the recently optimistic market sentiment could act as a negative factor for Bitcoin (BTC) prices.

On-chain analysis platform Santiment stated on its official X account on the 9th, "Bitcoin prices have surpassed the psychological resistance level of $100,000 for the first time since February 3rd," adding, "The current market sentiment is quite optimistic, but this could be a double-edged sword for future price movements."

Santiment noted, "As major media outlets extensively report on Bitcoin's milestone in three months, the FOMO (Fear of Missing Out) among individual investors could provide additional momentum to this rally." Santiment also mentioned, "On the other hand, when mentions of 'rises' or 'breakthroughs' related to virtual assets become excessively frequent, it often puts a brake on the rally."

Santiment emphasized, "We need to closely watch how the greed and fear sentiment changes in the coming days." It further stated, "If the price stagnates now and sell signals become dominant again, the path to a new all-time high for Bitcoin could open."