Retail’s back in the game as Bitcoin flirts with new highs

Bitcoin’s been teasing us, dancing just below its all-time high, and guess what? The retail crowd is waking up from their slumber.

They’re getting bullish again. Santiment shared that positive chatter about Bitcoin on social media is now more than double the negative noise.

That’s the highest ratio since Trump got elected over seven months ago. Nice!

Market anomalies, but good ones?

But Santiment also warns us that when retail gets this hyped, it’s often a sign of greed creeping in.

Markets love to do the opposite of what the retail expects, that’s known. The Bitcoin Fear and Greed Index is sitting pretty at 71, which means greed is the name of the game right now.

🤞 Bitcoin remains within close proximity to its $112K all-time high, currently trading at ~$109.9K. Since markets move the opposite direction of retail's expectations, spikes in discussion related to $BTC 's ATH are solid top signals, indicating greed.

🔗 https://t.co/6yZ0zysctd pic.twitter.com/ZCpwQWYZDu

— Santiment (@santimentfeed) June 10, 2025

It’s like when your coworker suddenly starts bragging about their stock picks, usually a sign to be cautious.

Now here’s where it gets especially interesting, as Glassnode’s weekly on-chain report paints a picture of a weird, almost schizophrenic market.

Long-term holders are taking profits, about $930 million a day. But their total holdings aren’t shrinking.

What will it take for #Bitcoin to break above ATH? In the Week On-Chain, we explore renewed demand around $101k, elevated Long-Term Holder profit-taking, compressed volatility expectations, and why $97.6k remains critical for short-term sentiment: https://t.co/ZTswpRDlqv pic.twitter.com/yXZhwtz3Ef

— glassnode (@glassnode) June 10, 2025

Nope, they’re actually stacking more coins. It’s like your colleague who keeps cashing out bonuses but still manages to save more every month.

This so-called unique duality means some are selling, but more are holding tight, turning into long-term believers.

Big game

Whales aren’t sweating the current price levels either. CryptoQuant says they’re chilling, waiting for Bitcoin to really overheat, maybe bubble up, before they cash out. Classic move, play the long game, wait for the big payday.

On the political front, U.S. Treasury Secretary Scott Bessent dropped a warning, if the U.S. doesn’t raise its debt ceiling, we might be staring down the barrel of the biggest crisis since 2008. Analysts put it bluntly and said we all know what’s coming.

“Default isn’t an option, money printing is.”

And in this game of financial poker, game theory favors the asset with a fixed supply. And that’s Bitcoin, baby.

Support

Price-wise, Bitcoin flirted with $110,000 earlier this week, coming within a hair’s breadth of its May 22 all-time high of $111,800.

It pulled back a bit during Thursday’s Asian session, but analyst ‘Rekt Capital’ sees a silver lining.

#BTC

It's official, it's confirmed

Bitcoin has successfully retested $104400 Re-Accumulation Range High resistance as new support for 4 straight weeks $BTC is rebounding from this new support base in an effort to transition into Price Discovery again $BTC #Crypto #Bitcoin https://t.co/NJhxKtJik4 pic.twitter.com/8GgDwAyc6n

— Rekt Capital (@rektcapital) June 9, 2025

Bitcoin has held the $104,400 level as new support for four weeks straight and is gearing up to break into price discovery again.

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