Bitcoin price has reignited bullish momentum, with the price of BTC approaching the critical $112,000 mark for the first time in weeks. According to new data from Santiment, investor sentiment has reached its highest level since November 2024, with positive BTC mentions on social media outnumbering negative ones by more than 2 to 1.
This sharp shift in sentiment coincides with a broader market rally and rising speculation about institutional inflows, retail interest, and ETF-driven optimism. But is a breakout above $112K on the table?
Bitcoin Sentiment at 7-Month High
On June 11, Santiment reported that bullish sentiment on Bitcoin is at a 7-month peak, driven largely by social media activity. For every bearish BTC comment, there are currently more than 2.1 positive ones—marking the highest positive/negative sentiment ratio since early November 2024.
This surge in social interest often precedes major price movements, as observed in previous cycles where retail engagement fueled rapid upward momentum.
Bitcoin Price Analysis
At the time of writing, Bitcoin is trading around $107,600, slightly down from its recent high of $110,800. However, the macro trend remains strongly bullish. Since early May, BTC has gained nearly 30%, bouncing off the $82K zone and breaking through multiple resistance levels.
Source: Tradingview
The key level now is $112,000, a psychological and technical barrier. A clean breakout above this mark could open the door to new all-time highs, especially if macro tailwinds such as ETF inflows and rate stability continue.
Volume also remains strong, with current daily trading activity staying above the 30-day average—a sign that traders are actively positioning for the next move.
What’s Driving the Optimism?
The rise in Bitcoin sentiment is being fueled by a mix of:
- Stronger institutional interest (BlackRock’s IBIT continues to see inflows)
- Retail momentum, amplified by media coverage and social channels
- Global macro narratives, including inflation slowdown and potential Fed pause
- Anticipation of a clean ETF environment, making BTC more accessible to traditional portfolios
This convergence of factors could create the ideal backdrop for a sustained breakout—if bulls can maintain momentum.
Final Thoughts: Can Bitcoin Break $112K This Week?
The return of bullish sentiment—especially from retail—is a powerful market signal. Historically, when retail euphoria aligns with strong price action and institutional tailwinds, Bitcoin often delivers sharp upside moves.However, traders should watch for short-term volatility near the $112K mark, which remains a key psychological resistance. A decisive close above that level on the daily chart could trigger the next leg up—potentially toward the $120K zone.
