The overall number of crypto market participants calling for Bitcoin to enter new all-time high territory has decreased, with crypto sentiment platform sentiment pointing positively.

“Calls for Bitcoin to reach $150k to $200k, and even $50k to $100k, are drying up,” Santiment said in a report on Friday.

“This reduction in FOMO and ‘Lambo’ memes is actually a healthy market indicator. It shows that retail optimism is fading,” added Santiment.

Bitcoin Sentiment Reaches ‘Neutral’

While prominent Bitcoin (BTC) advocates such as BitMax co-founder Arthur Hayes and BitMine chair Tom Lee were openly calling for Bitcoin to reach $250,000 by 2025, the asset’s price hit $126,100 in October, down from a year earlier. started

The bearish trend continued into the new year, with bitcoin falling to around $60,000 on February 6, but hitting a high of $67,847 at press time. According to on CoinMarketCap.

Sentiment around Bitcoin, as measured by the bullish ratio of social media comments, has rebounded from “extremely bearish” to “neutral territory,” which could make it difficult for market participants to make trading decisions, Santiment said.

“It’s best to avoid trading in these situations or at least minimize the importance of sentiment metrics in your analysis,” Santiment said.

Meanwhile, other indicators suggest that crypto investors are still fearful.

Crypto fear and greed Indexwhich measures overall crypto market sentiment, remained in the “extreme fear” zone on Saturday, posting a score of 8, suggesting investors remain extremely cautious.

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However, Santiment said overall activity on the Bitcoin network is “flashing warning signs,” explaining that transaction volume, active addresses, and network growth are all “steadily decreasing.”