Bitcoin's FOMO Soars to Multi-Year High Amid Price Surge

Bitcoin's FOMO (fear of missing out) has reached a multi-year high, according to metrics from Santiment analyzed by Finbold. The surge in FOMO coincided with Bitcoin's price reaching its highest level since January 29, 2026, at $87,395 on September 21.

The increase in FOMO was accompanied by a short squeeze, as short sellers were forced to cover their positions. This led to a sharp upward price surge and a significant decrease in liquidations, with a total of $370 million being liquidated over the past 24 hours.

Bitcoin's Open Interest, which is the total number of outstanding derivative contracts, gained 4% in the past 24 hours, reaching $61.56 billion at press time. The flagship coin also experienced heightened bullish sentiment due to significant demand from U.S. spot Bitcoin exchange-traded funds (ETFs), with a net cash inflow of $998.95 million on Monday.