Bitcoin Sentiment Hits New High—Will Prices Follow?
Source: Bitcoinist
An analytics firm suggested that Bitcoin might be heading to another bull market as the hype around meme coins starts to fade and the crypto community regains its interest in the flagship crypto and other top Layer-1 protocols.
Santiment acknowledged that the crypto community’s shift to Bitcoin could indicate market maturity, creating renewed optimism in the broader digital assets market.
Shifting Attention To Bitcoin
Data giant Santiment observed that the cryptocurrency sector has once again turned its attention to Bitcoin in the last few weeks as the meme coin frenzies waned.
“The crypto community has largely shifted their attention to Bitcoin and other Layer 1 assets like Ethereum, Solana, Toncoin, and Cardano,” Santiment said in a post.
The analytics firms noted that social discussions on Bitcoin and other Layer-1 protocols are on the rise, overtaking discussions on meme coins, which have been the talk of the crypto space for some time.
😀 The crypto community has largely shifted their attention to Bitcoin and other Layer 1 assets like Ethereum, Solana, Toncoin, and Cardano. Collectively, the top Layer 1 assets are getting 44.2% of discussions among specific coins. Meanwhile, top meme coins like Dogecoin, Shiba… pic.twitter.com/PpBjD9vSi4
— Santiment (@santimentfeed) February 10, 2025
“Collectively, the top Layer 1 assets are getting 44% of discussions among specific coins. Meanwhile, top meme coins like Dogecoin, Shiba Inu, and Pepe are being discussed less and less across social media,” Santiment said.
The data giant attributed this shift to the “recent volatility, and speculative altcoin price dominance falling behind.”
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More Stable, Sustainable Market
Santiment explained that investors’ shift of attention from meme coins to Bitcoin and Layer 1 only indicates “a more stable and sustainable market environment.”
“Meme coins tend to attract speculative enthusiasm, often driven by hype, viral trends, and a gambling mindset rather than fundamental value. When these assets dominate discussions, it typically signals a phase of excess greed, where traders chase rapid, short-term gains without considering long-term viability,” the analytics firm said.
Sanitment called Bitcoin and other Layer-1 protocols the “foundational infrastructure of the crypto space,” believing that the crypto community’s increased attention to these assets often reflects a “more mature and informed approach” by the crypto community.
The data giant added that it also means that the community wants to prioritize “security, innovation, and real-world adoption.”
“Layer 1 blockchains support smart contracts, decentralized applications, and network scalability—key drivers of long-term growth in the industry,” the analytics firm said.
Healthier Market Cycle
The analytics firms suggested that the investors’ regained attention towards Bitcoin and away from meme coin proves that the crypto community is more inclined to sustainability.
“When traders pivot back to assets with strong utility and established market positions, it suggests a healthier market cycle. This shift encourages a more balanced ecosystem, reducing the risk of unsustainable price surges and crashes fueled purely by speculative mania,” Santiment said.
As of this writing, Bitcoin is being traded at $97,825 per coin, up 0.2% in the last 24 hours. Its total market capitalization is nearly $2 trillion.
Featured image from Avira, chart from TradingView
