Social Media Fear Grows as Bitcoin Hits Lowest Level Since April: Santiment

Bitcoin slipped to around $66.7K, pushing social media sentiment into “Extreme Fear” as traders responded to price levels not seen since early April. The downturn has also drawn increased attention to selling activity associated with Strategy, adding to the negative tone in the market.

Meanwhile, on-chain analytics firm Santiment notes that online conversations have shifted strongly toward bearish views over bullish ones. This imbalance is often seen during periods of retail capitulation, with many traders now bracing for additional downside and pricing in potential moves below $60K, and in some cases even toward $50K for Bitcoin.

Source: Santiment