Social Media Bets on Bitcoin Above $90,000, but Analysts Warn of Contrarian Signal
Bitcoin has gradually recovered from a low of about $60,000 in February 2026, supported by renewed inflows into spot ETFs. It has also remained resilient amid conflict involving Iran, rising oil prices and multiple DeFi attacks. The market is therefore looking for a break above $90,000, which would turn Bitcoin’s year-to-date return positive. The prospect has also raised concerns that retail sentiment may be overheating.
On April 29, 2026, Santiment said its scan of thousands of posts on X, Reddit, Telegram and other platforms over the previous week found that predictions of Bitcoin rising above $90,000 clearly dominated the discussion. Forecasts of $50,000 to $59,000 were largely dismissed as FUD. However, BTC had slipped to about $77,000 after trading above $79,000 on Monday, and Santiment warned that an extremely bullish consensus often signals the risk of a price reversal.
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The history behind this eventRare Bitcoin Bullish Divergence Signal Puts $90,000 in Sight
A bullish divergence occurs when prices continue to make new lows while the relative strength index, or RSI, moves higher, suggesting that selling pressure may be easing. Cointelegraph noted that the last time this signal appeared on Bitcoin’s weekly chart was after FTX collapsed in November 2022. Bitcoin then climbed about 715%, from roughly $15,500 to $126,200, drawing attention to the latest signal.
Cointelegraph reported on June 8, 2026, that Bitcoin had fallen from $75,770 to about $63,000 while its weekly RSI recovered from below 30 to above 34. If confirmed, it would be only the second weekly bullish divergence in Bitcoin’s history. Analyst Van de Poppe said a break above $64,000–$65,000 could open the way to the $79,000 CME gap and resistance above $90,000. The 50-week moving-average target is about $91,755.
Santiment Warns Overheated Crypto Optimism Puts Bitcoin’s $80,000 Level at Risk of Pullback
Crypto analytics platform Santiment tracks social-media discussion and investor sentiment over time, treating extreme optimism as a potential contrarian indicator. When bullish commentary rises overwhelmingly, markets often accumulate large numbers of momentum-driven positions. That can leave Bitcoin’s rally after breaking above $80,000 more vulnerable to a reversal as investors take profits.
As of July 20, 2026, Santiment said the share of bullish crypto-market comments had risen to its most positively skewed level of the year, suggesting crowd confidence may be overheating. Bitcoin was still holding at $80,628, but the platform warned that the near-term rally could struggle to continue if optimism remained heavily concentrated, leaving the $80,000 level at risk of a pullback.
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