Odaily Planet Daily reports that Santiment noted that bearish comments about Bitcoin on social media have risen to a five-week high. Data shows the ratio of bullish to bearish comments about Bitcoin at 0.81, meaning approximately five bearish comments for every four bullish ones. Santiment pointed out that markets typically move in the opposite direction of public sentiment, and such high levels of FUD sentiment are often a common precursor to price rebounds, potentially signaling a faster-than-expected recovery. Additionally, the Crypto Fear & Greed Index stood at 12 on Sunday, remaining in the "extreme fear" range. Bitcoin’s current price is $67,100, down 5.53% over the past 30 days.
Bitcoin social media bearish sentiment reaches a five-week high
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Summary
Bitcoin sentiment has reached a five-week high in bearishness, according to Santiment. The bullish-to-bearish comment ratio has fallen to 0.81, indicating more negative than positive discussion. The Fear & Greed Index has dropped to 12, remaining in the extreme fear zone. Bitcoin is trading at $67,100, down 5.53% over the past 30 days. Santiment notes that FUD often precedes price recoveries.
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