According to Santiment, Bitcoin is unlikely to see a new all-time high anytime soon. The statement made on September 30 stated that market expectations would need to be lowered for Bitcoin to reach a new high. When examining social sentiment data, it was observed that for every 1 bearish post, there were 1.8 bullish posts. Historically, markets usually move against the crowd's expectations.

Bitcoin prices rose 14% from September 17 to September 28 and are set to record their best September performance with a 12% gain this month. In addition, Bitcoin has returned to greed levels with the Fear and Greed Index at 61.

There is also a positive shift towards Bitcoin in the mainstream media. However, the decline in stablecoin demand in China may delay Bitcoin from reaching a new high. Bitcoin is currently trading at $64,406, 12.6% below its all-time high of $73,734 in March.

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