Santiment: Bitcoin faces resistance in its surge towards $70K, social media sentiment data reveals market trends

According to Santiment on X, despite a brief surge in Bitcoin prices on Tuesday, the target of reaching $70,000 still exists. However, this momentum quickly weakened with changes in market sentiment. Data from @santimentfeed shows that when the frequency of mentions of Bitcoin between $50K and $59K on social media increases, a market bottom forms; while when the frequency of mentions between $70K and $79K is high, a top forms. A reminder to all market participants: markets often move against popular predictions. Think independently to avoid falling into the trap of "groupthink".