Bitcoin is almost at $80,000... Why are retail investors falling into 'FOMO' again?

▲ Bitcoin (BTC)

As the price of Bitcoin (Bitcoin, BTC) is on the verge of breaking past $80,000, market sentiment has rapidly reversed from extreme pessimism to excessive optimism in just 72 hours.

According to U.Today, a cryptocurrency specialized media outlet, on April 24 (local time), on-chain data analysis firm Santiment stated that the public sentiment index surrounding Bitcoin recently moved out of the pessimistic phase early this week and entered the so-called 'Ultra FOMO' phase by Thursday.

Earlier this week, when Bitcoin's rally stalled at the $76,000 level and negative opinions flooded social media, Santiment, on the contrary, pointed to this indicator as a buy signal. It effectively identified the peak of market pessimism as an opportunity for a rebound. Subsequently, Bitcoin successfully recovered its price, reaching $78,000 on the 23rd and is once again knocking on the $80,000 mark.

Currently, Bitcoin is trading around $77,500, recording a gain of 4% over the past week and 10% over the past month. However, compared to its all-time high of $126,000 reached in October 2025, it is still 38% lower. Santiment called the return of the indicator to a strong FOMO state a "clear warning signal," stating that while further price increases are possible, optimism needs to calm down somewhat for Bitcoin to settle above $80,000.

Market analysts are suggesting that public sentiment needs to regain composure for Bitcoin to break through resistance and establish strong support. Santiment added, "While breaking $80,000 could have a huge impact on new investors and those looking to re-enter the market, a rally that occurs when the current excessive enthusiasm has somewhat subsided will be more convincing."

A cautious view is also raised, suggesting that the recent price rebound is based on futures market activity rather than actual spot demand. Analyst Carmelo Aleman analyzed that the price increase from $76,000 to $79,400 was a result driven by futures market trading activity rather than actual asset purchases, raising questions about the sustainability of the rally.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*