Bitcoin social media bearish sentiment hits a 5-week high
According to Odaily, Santiment reported 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 is 0.81, meaning for every 4 bullish comments there are about 5 bearish ones. Santiment noted that the market often moves in the opposite direction of the public's expectations, and such high levels of FUD sentiment are usually common factors for price rebounds, possibly indicating that prices could improve faster than expected. In addition, the Cryptocurrency Fear and Greed Index scored 12 on Sunday, remaining in the extreme fear zone. Currently, Bitcoin's price is $67,100, having fallen 5.53% over the past 30 days.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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