Santiment reports that Bitcoin has captured 43.06% of all social media discussions related to cryptocurrency this week, coinciding with its market value surpassing $123.1K for the first time. This significant social chatter spike may indicate a local price peak and a potential short-term pullback. Analyst Brian Quinlivan warned that the influx of retail investors driven by FOMO could lead to this phenomenon, although some industry participants believe retail engagement remains low. Following the price peak, Bitcoin has retraced to $117,011 at the time of publication. Quinlivan suggests that traders should wait for the euphoria to subside before making further purchases, implying another key entry point may soon arise. Despite recent price dips, some analysts remain optimistic about Bitcoin's trajectory, noting the absence of peak signals that often suggest an overheated market, indicating further upward potential before the month ends. Others, like Galaxy Digital's Harvey, anticipate a brief consolidation phase after the recent surge before any additional price rises.

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