- Bitcoin rebounds to $108K as whale activity and retail FOMO fuel bullish momentum.
- Sentiment spikes into the greed zone, but technicals warn of potential short-term correction ahead.
Bitcoin [BTC] has snapped back above $108K, flipping the script on the recent sub-$100K scare.
A wave of optimism is sweeping through retail circles, while deep-pocketed players appear to be making bold, calculated bets.
From sudden whale activity to high-leverage conviction plays, this latest surge is stirring more than just price action.
Here’s what we’re seeing, and what it could mean next.
FOMO returns, but so does a familiar sign
Bitcoin’s sharp rebound to $108K from $105K yesterday has sparked a surge in retail optimism — reflected in the second-highest spike in FOMO sentiment in two weeks.
According to Santiment, trader mood has re-entered the “greed zone,” a territory historically associated with market tops.
Source: Santiment
After last week’s drop below $100K, many traders panic sold. Now, social sentiment is flipping bullish just as prices begin climbing again.
But in crypto, that kind of energy has often preceded reversals. With sentiment outpacing fundamentals, the crowd may once again be setting up for a contrarian move.
Whale wallets make their move
Fresh on-chain data confirms what many suspected; whales are stepping in aggressively.
Source: X
One wallet just opened a 20x leveraged long worth over $50 million, aiming to capitalize on BTC’s momentum at $106.5K.
Source: X
Simultaneously, 997 BTC flowed out of Kraken into unidentified wallets in a series of large transactions, raising eyebrows across the board. These are high-conviction positions from entities that rarely act without purpose.
While retail traders wrestle with FOMO, whales seem to be betting on a deeper upside.
Momentum builds, but caution creeps in
Bitcoin’s RSI sat at 61.13 at press time, a sign of bullish momentum without yet hitting overbought territory. Price action showed strong recovery candles above $108K, though today’s slight pullback suggests short-term exhaustion.
The OBV at 1.74M supported continued accumulation, but a flattening slope hints that buying pressure may be cooling.
Source: TradingView
If OBV and RSI diverge further, a short-term correction could follow. Bulls still control the trend, but sustaining above $110K with volume confirmation will be key to avoiding a repeat of late-May’s rejection.
