Bitcoin Bullish Metric Is In The Green – BTC To See New Price Surge

The optimistic prediciotns about Bitcoin are still coming our way. Check out the latest one below.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $26,926.

Santiment platform said that a key metric is flashing bullish for Bitcoin (BTC) as it did in November 2022.

Santiment explained the fact that the level of fear in the digital assets space, based on trending crypto terms, is similar to the time after the FTX collapse last year, which proved to be a market bottom at the time.

“One of the primary signs of fear is when the top trending crypto keywords are almost all related to hardware wallets and security. We saw similar safety concerns from traders in November [2022] after the FTX collapse. That marked a market bottom.”

Here is another signal that indicates BTC may bounce in the near term.

“With Bitcoin revisiting the $26,000 level, traders are showing increased worries of prices falling back to the $20,000 to $25,000 range. BTC social dominance has jumped high again, typically a sign of fear. Fear signals increase the probability of a rebound.”

A widely followed crypto trader says king crypto Bitcoin (BTC) may fall further in June before rebounding.

Crypto analyst Justin Bennett tells his 112,600 Twitter followers that $25,000 might be the next stop for BTC.

“BTC is still catching a bid at $26,560, but if this level fails, $25,000 is next.

While many will bid $25,000 for a macro long, I think we see lower in the coming weeks.

Something like this is my base case but may be tweaked as things unfold.”

Diving deeper into the situation in a new blog post, Bennett says he is bearish on BTC for now.

“Bitcoin is once again testing the $26,560 key horizontal support after getting rejected from the mid-March trend line at $27,500…”