Bitcoin’s Fear of Missing Out Reaches Two-Year Peak
Bitcoin’s “fear of missing out” (FOMO) sentiment has surged to its highest level in two years, approaching levels last observed months before its all-time price record. The cryptocurrency’s ascent toward the $87,000 mark is being propelled by a confluence of factors, including significant corporate acquisitions, a cooling of oil prices, declining Treasury yields, and a substantial short squeeze. Should Bitcoin maintain its position above $86,000, analysts suggest it could retest the $90,000 threshold.
Market Surge and Investor Sentiment
Bitcoin (BTC) experienced a notable surge, climbing 6.42% in a single day and 10.42% over the past month, trading at $86,447. The digital asset’s upward momentum, sustained above the critical $80,000 level, has led to mounting short liquidations totaling $556 million in the last 24 hours.
Crypto analytics firm Santiment reported that Bitcoin’s FOMO has now reached levels not seen since December 2024. That month saw Bitcoin peak at $108,000, with subsequent months culminating in the historic high of $126,000 in October 2025.
Further underscoring the market’s activity, Bitcoin’s combined trading volume recently jumped by 39%. Despite significant short positions being unwound, open interest has continued to climb, rising 9.38% in the past 24 hours to reach $61.33 billion.
Corporate Buying and Macroeconomic Influences
Beyond the pervasive FOMO, institutional investors have also contributed to Bitcoin’s rise. Strategy, for instance, recently acquired 950 BTC. Additionally, net flows into Bitcoin Exchange-Traded Funds (ETFs) have turned positive, registering $317.10 million as of September 21.
The rally has also been supported by a backdrop of falling bond yields and moderating cooking oil prices, contributing to a shift in market sentiment towards cautious optimism.
Analyst Reversals and Community Reactions
In response to the market’s upward trajectory, seasoned analyst Ben Cowen publicly reversed his previously bearish outlook on X, formerly Twitter. He was met with welcoming remarks from Strategy Executive Chairman Michael Saylor and analyst Michale van de Poppe, who emphasized that analyses are subject to revision and require regular reassessment.
Meanwhile, the cryptocurrency community has playfully targeted television personality Jim Cramer, who announced he had sold all his Bitcoin nearly two months prior, citing concerns over quantum security vulnerabilities. The phrase “Inverse Cramer strikes again” has begun trending as the asset surpasses his stated sell-off point.
While the prevailing sentiment is bullish, investor Garret Jin has adopted a bearish stance. After closing a $8.38 million profit on a Bitcoin long position, he has now initiated a short position on 500 BTC with 3x leverage, valued at $43.23 million.
Santiment concluded its analysis by reminding the crypto community that as risk diminishes, so too do potential rewards. The firm stressed that this principle does not guarantee a market reversal but serves as a reminder for vigilance. “One-sided optimism is where caution becomes useful,” Santiment stated.
Technical Outlook
If Bitcoin manages to hold its ground above $86,000, it could potentially retest the $90,000 Fibonacci extension level. Conversely, a breach below this support could lead to a pullback, with potential downside targets identified between $82,000 and $84,000.
