Social media optimism for $90K BTC is a contrarian signal, Santiment warns

Widespread optimism on social media platforms that Bitcoin will soon recover to $90,000 should be treated as a potential contrarian indicator, CoinDesk reported, citing data from on-chain and social analytics firm Santiment. Santiment explained that a surge in bullish sentiment on social media can often act as a reverse signal before an asset's price declines. The firm noted that among thousands of posts on crypto-related social media platforms like X, Reddit, and Telegram last week, predictions of BTC recovering to $90,000 were overwhelmingly dominant. At the same time, posts suggesting a potential price drop are being dismissed as FUD (fear, uncertainty, and doubt). Santiment concluded that the current social media optimism is a signal to be cautious and prudent.