Bearish sentiment around Bitcoin has climbed to a five-week high, with Santiment data showing a sharp rise in negative social media commentary across major platforms.
The ratio of bullish to bearish Bitcoin comments dropped to 0.81, its lowest level since late February, reflecting growing pessimism among retail traders.
“Markets typically move in the opposite direction of the crowd's expectations,”
Said Santiment, adding that elevated fear can often precede a price rebound.
Bitcoin was trading around $67,100 at the time of reporting, down approximately 5.5% over the past month as uncertainty continues to weigh on sentiment.
Santiment noted that macro and regulatory factors, including progress on the US CLARITY Act, may be contributing to hesitation among investors.
Broader indicators reinforce the cautious outlook, with the Crypto Fear & Greed Index remaining in “Extreme Fear” territory with a score of 12.
The combination of negative sentiment and subdued price action suggests markets are in a wait-and-see phase, with traders watching for catalysts that could shift momentum.
At the time of reporting, Bitcoin price was $69,198.47.