Bitcoin investments hit a seven-month high in June

This week, bitcoin BTC $104,584.42 Bitcoin -0.61% Market capitalization $2.08 trillion VOL. 24 hours $0.98 billion exceeded the $ 110,000 mark several times, which led to the highest level of positive sentiment among investors in the last seven months. According to the Santiment analytical platform, on June 11, the ratio of positive to negative mentions of bitcoin on social media was 2.12:1, the last time this figure was recorded the day after Donald Trump won the election, when the cryptocurrency rate exceeded $ 70,000 for the first time.

Institutional investors and governments remain the main source of the rate’s growth, while retail investors' participation remains limited. Nevertheless, a gradual change in sentiment among ordinary users may become an additional driver of growth. Santiment monitors sentiment on X (Twitter), Reddit, Telegram, 4Chan, Bitcoin Talk, and Farcaster, where bullish sentiment currently prevails.

At the time of publication, bitcoin’s value was $ 107,882, down 1.6% from its all-time high of $ 112,000 on May 22. According to TradingView, bitcoin remains near its peak, and the market is highly active.

The Fear and Greed Index for the crypto market also signals the dominance of positive expectations, currently standing at 71 out of 100 points, which is the «greed» zone. However, this figure is still lower than the record 94 points that the index showed on November 22 last year against the backdrop of bitcoin’s jump from $ 67,700 to $ 99,250.

Despite the optimistic picture on financial platforms, Google Trends data indicates a moderate interest in bitcoin among a wider audience. Over the past 12 months, the index of search queries is only 32 out of 100, and compared to the peak of 2017, it is only 19. This indicates that retail investors have not yet fully returned to the market.