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, drawn from a large sample of crypto-focused social accounts, tracks the ratio of bullish to bearish Bitcoin (BTC) comments across X, Reddit and other platforms. On Saturday, the ratio stood at 0.81 — the lowest level since Feb. 28 — indicating roughly five bearish comments for every four bullish ones.
Bitcoin holders frequently use broader market sentiment to inform buying and selling. When sentiment is low, many expect further downside; when optimism rises, traders tend to expect upside. Santiment, however, noted that markets often move opposite the crowd’s expectations. “Markets typically move in the opposite direction of the crowd’s expectations,” the firm said. “A high level of FUD like this is a good sign that things can turn positive sooner rather than later.”
At the time of publication, Bitcoin was trading near $67,100, down about 5.53% over the past 30 days, according to CoinMarketCap. Other metrics show similar weakness — CoinMarketCap data indicates Bitcoin is down roughly 5.47% over the same period.
Santiment pointed to the US CLARITY Act, a closely watched piece of legislation, as a potential “what-if” catalyst weighing on price. Coinbase chief legal officer Paul Grewal has said the bill is “moving toward” a markup hearing in the US Senate Banking Committee and could eventually reach a floor vote if senators resolve a dispute over stablecoin yields and schedule a markup.
Broader crypto sentiment remains cautious. The Crypto Fear & Greed Index, which measures overall market mood, remained in “Extreme Fear” territory with a score of 12 on Sunday.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy