The Bitcoin price has once again surged past $43,000 gaining 2.2% in the last 24 hours with its market cap inching closer to $850 billion. Despite the selling pressure in BTC, the Bitcoin ETFs have continued to garner strong attention and inflows. However, the FOMO surrounding the Bitcoin ETF arrival seems to be cooling down as the BTC price remains relatively under pressure.
Bitcoin ETF Crowd Sentiment Sees Major Shifts
In a recent analysis by on-chain data provider Santiment, historical patterns of crowd discussions surrounding Bitcoin have undergone a significant transformation, signaling shifting market sentiments.
Traditionally, a high ratio of crowd discussions focused on Bitcoin signals a fear indicator. However, Santiment notes that since mid-2023, the narrative has shifted. The enthusiasm and optimism surrounding Exchange-Traded Funds (ETFs) for Bitcoin have flipped the narrative, turning high Bitcoin discussions into a greed indicator. This shift is due to unrealistic expecta
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