Bitcoin bearish social chatter reaches 5-week high: Santiment.

Social media bearishness around Bitcoin has reached its highest level since the end of February, according to crypto sentiment platform Santiment.

“FUD has crept back in with the community showing a key lack of optimism,” Santiment said in an X post on Saturday, adding that it is “usually a common ingredient for prices rebounding.”

The data comes from a large sample of crypto-focused social media accounts and tracks the ratio of bullish to bearish Bitcoin.
BTC $66,871comments across X, Reddit, and other social media platforms. Bitcoin holders often look at broader market sentiment to guide buying and selling decisions. When sentiment is low, most expect more downside, and when optimism picks up, traders start to expect further upside.

However, Santiment said the market often moves in the opposite way. “Markets typically move in the opposite direction of the crowd's expectations,” Santiment said. “A high level of FUD like this is a good sign that things can turn positive sooner rather than later,” Santiment added.

Bitcoin is trading at $67,100 at the time of publication, down 5.53% over the past 30 days, according to CoinMarketCap.
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