Bitcoin ETF Fuels Market Euphoria and Ambitious Predictions

Market Sentiments and Bitcoin ETF

The market has been showing rather curious sentiments over the past few months. Each time I compare the current Bitcoin rally to previous cycles and peaks, I’m met with the response, “But there was no ETF back then!” as if the approval of a Bitcoin ETF automatically makes Bitcoin immune to corrections and declines.

Analysts’ Predictions and Euphoria Signs

Every day I see forecasts from fellow analysts and notable industry figures, all competing with more ambitious targets. The 100k level is no longer a goal or a dream for most; everyone is aiming higher, around 150k-200k for Bitcoin. This is accompanied by a recurring chorus of “supply shock,” “whales are accumulating,” “BlackRock will never lose and won’t let Bitcoin fall,” and so on.

To my taste, the signs of euphoria are evident. “Experts” note that the market ceiling, particularly for BTC, is still far away for one simple reason: the crowd hasn’t jumped in yet, and the search interest for the word Bitcoin is low (I laugh every time at this metric). Dear friends, the crowd doesn’t care about Bitcoin; everyone is into meme coins and altcoins. Bitcoin is no longer interesting because it won’t give tens of times returns. If lucky, it might yield 20-30%, but who in their right mind (except the channel’s author) comes to financial markets for twenty percent annual returns? It’s laughable.

I didn’t move 40% of my portfolio to cash at the end of May for no reason. Sure, the market might theoretically soar to the moon this summer and leave me with much less profit than I’d like. But I think investors are starting to forget (and many newcomers never knew) how the market “turns red” and falls by tens of percent, and how quickly “winter” comes, especially if the growth was based on expectations rather than facts.