Bitcoin Social Dominance Hits 43% — Short-Term Pullback Likely

Santiment reports that Bitcoin made up 43% of all crypto discussions on social media as it hit a new all-time high of $123,100. This surge in chatter suggests a potential short-term top, with retail investors possibly FOMO’ing in.

Analyst Brian Quinlivan warns that high social dominance often signals a local price peak. He advises waiting for hype to cool down before entering the market again.

Despite this, some analysts remain bullish long-term. CryptoQuant’s Axel Adler says we may not have hit the top yet, and Galaxy Digital’s Michael Harvey expects further upside after a brief consolidation.

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