Bitcoin has been on a wild ride lately. Just weeks ago, the market was on edge at $100K, but now BTC is holding slightly above $90K and surprisingly, sentiment is calmer. Crypto sentiment recovers despite Bitcoin below 100K, with fear still rated as “extreme,” yet panic showing signs of retreat. Reports from CoinDesk, The Block, and CryptoQuant highlight that even with the price under six figures, the market is already adjusting psychologically, as traders and investors watch for early signs of stability.
What has changed
Bitcoin is trading around $91K, and the Fear & Greed Index has risen to 25. That’s nearly 10 points higher than it was on November 13, the last day BTC was above $100K. In other words, even though the price dropped, market psychology is improving. Investors are beginning to feel that the sharp sell-offs of the past weeks may have passed, and some see this as a chance to observe or enter positions cautiously.
The market is flirting with $100K again.
Some traders now view the $93–94K range as a sentiment “switch.” Once Bitcoin moves back above that zone, conversations about hitting $100K are likely to return, even before the next leg down or sideways correction. This fuels an ongoing debate: is this a true rebound, or just a short-term “dead-cat bounce” in a broader bearish trend? Analysts suggest that careful observation of price and volume around this level will be crucial in identifying the next significant move.
Retail is negative; the market behaves differently.
Data from Santiment highlights that retail traders remain skeptical. Many are frustrated and doubtful, showing strong bearish sentiment. Historically, these moments of extreme retail pessimism often coincide with reversals. Interestingly, even some long-term Bitcoin bulls are adjusting their expectations. Predictions of $250K appear to have faded for now, with focus shifting to “just getting back to $100K confidently.” The contrast between retail fear and cautious optimism from seasoned traders may provide the momentum needed for a rebound.
December has no guaranteed “magic” rally.
Traditionally, December is seen as a bullish month, often bringing a 4–5% rise in Bitcoin. However, this year, October and November broke the usual seasonal patterns. Investors are now focusing less on calendar trends and more on liquidity, market positioning, and crowd behavior. Institutional players, ETF flows, and macro factors like US rate decisions will play a key role in determining whether the market can hold gains and move toward $100K again.
Conclusion
While Bitcoin is still below the comfortable $100K level, the market is slowly recovering from shock. Fear is now rational rather than hysterical. If BTC climbs above $93–94K, the “back to $100K” narrative will likely reemerge quickly. The question remains: who will enter the market with a cool head, and who will FOMO after November’s volatility? Monitoring sentiment, technical levels, and liquidity will be critical for anyone looking to anticipate the next move in Bitcoin.
