Bitcoin Faces Summer Test

🟧Bitcoin has come within 2% of its all-time high, but excessive optimism from retail investors may backfire. Analysts warn that markets often move contrary to crowd expectations, and with the Fear & Greed Index at 72, sentiment appears heavily skewed toward greed. Brian Quinlivan of Santiment notes that without trader disappointment and “painful shakeouts,” a move to new highs is unlikely.

🟧Historically, Q3 has been Bitcoin’s weakest quarter, averaging just 6% growth since 2013. Vacation season, reduced trading activity, and rising uncertainty around the Fed’s monetary policy could further weigh on BTC. Meanwhile, Ethereum is gaining renewed momentum in its bid to catch up, setting the stage for an especially intriguing summer in the crypto market.