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There’s a social media groundswell predicting bitcoin above $90,000. That might be a problem.
The crowd is heavily leaning bullish, and that’s often a contrarian signal, according to Santiment.
Apr 29, 2026, 9:11 a.m.
What to know:
- Retail investors on social media are increasingly predicting that bitcoin will soon trade above $90,000, viewing lower price ranges as reflecting “fear, uncertainty and doubt.”
- Analytics firm Santiment warns that this surge in bullish sentiment may be a contrarian signal, suggesting prices could move in the opposite direction.
- Bitcoin’s April recovery has already paused, with the price slipping to about $77,000 from above $79,000 earlier this week, leaving unclear whether this is a brief pullback or the start of a broader reversal.
Clearly, the crowd is expecting the slow recovery from the February low of around $60,000 to extend well into May. And why not? Flows into exchange-traded funds (ETFs) are back, and bitcoin has held up through weeks of Iran-related conflict, oil price surges and a string of DeFi hacks that once again highlighted the risks embedded in blockchain infrastructure.
What do you call a market that doesn’t fall on a stack of bad news? Bullish, right? That’s what the crowd seems to be pricing in.
Santiment says this bullishness as precisely the reason to be cautious.
