Traders are increasingly optimistic about Bitcoin’s potential to break above 110,000 USD. A report from Santiment indicates that the bullish-to-bearish comment ratio has risen to 1.51:1, the highest in three weeks.
However, caution is advised as similar spikes in bullish comments previously led to price declines. For instance, Bitcoin peaked at 109,595 USD before retracing to lower levels recently.
Looking ahead, macroeconomic factors may impact the crypto market, according to Javier Rodriguez-Alarcon. Upcoming Federal Reserve announcements could influence Bitcoin’s price trajectory.
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