Bitcoin’s meteoric rise continues as its total market value surpasses $1 trillion, fueled by a surge in price to over $51,000 on February 14th. This increase follows rising interest from not just individual but also institutional investors, propelling Bitcoin to sustainable price appreciation despite significant challenges.

Despite the latest milestone, data suggests an ongoing battle among traders revolving around the asset’s $50,000 market value. At such psychological support levels, the dynamics of crowd sentiment, characterized by either Fear of Missing Out (FOMO) or Fear, Uncertainty, and Doubt (FUD), significantly influence the long-term trajectory of the price.

Bitcoin Primed For More Gains

Interestingly, as Bitcoin crossed $50,000 for the first time on Monday, anticipation for $55,000 levels was already visible, mirroring the pattern observed when $45,000 was surpassed a month earlier, according to Santiment’s latest analysis.

The analytics firm also stated that such anticipation often leads to temporary peaks, indicating a cyclical pattern driven by market sentiment.