Sentiment among crypto market participants on social media has kicked off the year, according to an analyst at Sentiment, who warned that further market upside is dependent on retail investors heading the level.

“We need retail to be a little bit cautious, a little bit pessimistic, a little bit anxious.” said In a video posted on YouTube on Saturday.

Despite signs of other sentiment in crypto leading to fear among market participants, Quinlivan said sentiment’s social media data indicated otherwise.

This level has historically been “a concern.”

“It’s very positive at the moment,” he said. “Normally it’s a bit of a concern, but in this case it might be the only one since we’re back from the holidays.”

Quinlivan said he’s not overly concerned about “a lot of FOMO,” but added that he could enter the market if Bitcoin (BTC) climbs sharply toward $92,000. Over the past 24 hours, Bitcoin is trading at 89,930 at the time of publication. According to For Coinmarketcap.

Quinlivan said that a quick rise in bitcoin’s price to this level would show a “real retail reaction”. “Are they starting to put in money because they’re saying bitcoin goes up, it’s going to be bad,” he said.

Despite a historically strong January, crypto faces signs of fear

Retail enthusiasm in crypto markets tends to rise near all-time highs or cycle peaks, and historically, the market has declined immediately after.