Traders eye Bitcoin’s bull-bear ‘tug-of-war’ to plan their next move

Nic Puckrin, an analyst at The Coin Bureau, said Bitcoin is being “pulled in different directions by conflicting news” as it heads into the weekend.

Crypto trader sentiment on social media is currently split right down the middle, with one side predicting a Bitcoin drop below $70,000 and the other expecting a rally to $130,000. 

Bitcoin (BTC) dipped below $87,000 on Thursday for the first time since April; however,  “Social volume still shows a mixed bag of dip buy optimism and doom & gloom, with very little in between,” market intelligence platform Santiment said in an X post. 

Data from Santiment’s research platform, Sanbase, found that social media mentions on Thursday were roughly evenly split between predictions of Bitcoin dropping to between $20,000 and $70,000 and more bullish takes of between $100,000 and $130,000.

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