Bitcoin FOMO Hits Highest Level Since 2024 as Price Approaches $87,000

The Bitcoin price surge has triggered the highest level of FOMO (fear of missing out) since 2024, as the cryptocurrency nears $87,000. According to data from crypto analytics platform Santiment, discussions reflecting fear of missing out had risen substantially during the latest price move.

As a result, a total of $648 million in bearish positions were wiped out as Bitcoin moved higher. Leveraged traders betting against Bitcoin faced increasingly unfavorable price movements, leading to the liquidations. The resulting buying activity added to short-term trading volume.

Crypto trading volume jumped 39% alongside Bitcoin's price movement, with CoinDesk reporting that trading volume reached approximately $224 billion while the market was experiencing a wave of short liquidations. This increase in volume came as BTC approached the $87,000 threshold, putting the latest move against a backdrop of increased participation across cryptocurrency markets.