Bitcoin (BTC) has won over $4,000 in the last 48 hours and appears to be poised to get more ratings in its current breakout movement. As BTC adoption soars, development fears to miss the (FOMO) waves in the cryptocurrency market.
Bitcoin FOMO FRENZY is back
Santiment, a market intelligence platform, noted that 344,620 new wallets have been added to the blockchain since the price surge began. This represents the number of new users who created Bitcoin addresses in response to increased demand and are considering benefiting from the profits.
In particular, as Bitcoin prices skyrocket, investors who have previously been away from the market are rushing for the potential profitability of swing trading. This development generally promotes market activity and can further increase prices.
Given that digital assets have not been valued at this level since January, the Rush of owning a slice of Bitcoin is understandable.
Surprisingly, some market participants believe that BTC prices will drop as Bitcoin has not turned its $100,000 psychological level since February 2025.
However, recent developments have shocked many people. As Santiment observed, “Crypto’s highest market capitalization assets silenced the bears, reaching a high of 103.8K for the first time since January.”
In Bitcoin’s network, 344,620 new wallets have been created on the network to allow FOMO to be poured into it. Crypto’s top mark cap asset silenced the bear, reaching its first high of 103.8K since January. pic.twitter.com/hai245lqjz
– santiment (@santimentfeed) May 9, 2025
Bitcoin’s performance has negated all bear forecasts and short-term negative outlook for assets.
Market activity will skyrocket when confidence returns
As of press time, Bitcoin’s price has been trading hands at $103,361.05, representing a 3.54% increase over the last 24 hours.
Meanwhile, FOMO has helped to significantly increase trading volume to $729.9 billion by a significant 34.15%, suggesting new trust in the Bitcoin market.
A surge in Bitcoin prices could also cause sales pressure. This could affect upward movement, especially if investors who purchased their assets in January before crashing decide to offload to minimize losses.
However, Changpeng Zhao, former CEO of Binance, advises holders not to panic sell because the coin has a prospect.
On his part, Dogecoin founder Billy Markus is not impressed with BTC turning $100,000. In a recent comment reported by U.Today, another all-time high price may meet his approval.
