Bitcoin reaches highest level of bearish chatter in 5 weeks: Santiment
Santiment said bearish Bitcoin comments on social media have climbed to a five-week high, which could signal a reversal sooner rather than later.
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) comments across X, Reddit, and other social media platforms.