Bitcoin sentiment on social media has reached its highest level this year, even as the overall crypto market is down, according to crypto sentiment platform Santiment.
“Bitcoin Sentiment Rises to 2.23 Bullish for Every Bearish – Most Skewed Positive Ratio of 2026”, Santiment he said in a report published on Saturday.
“The previous two most positive ratio days of the year preceded short-term price pullbacks, while strongly negative readings marked local bottoms. The current euphoria contrasts sharply with the bearish picture of ETF flow and calls for caution,” Santiment said. Spot Bitcoin ETFs recorded their tenth consecutive trading day of outflows on Friday, with total net redemptions surpassing $2.97 billion as of May 15.
Source: Michael Sullivan
Crypto market participants often look at broader market sentiment to gauge how other investors are feeling and to make their own buy or sell decisions, based on where they believe the market may be headed in the short term.
However, the market has historically moved in the opposite direction to what most market participants expect. “Extremely positive sentiment readings have historically preceded short-term pullbacks more often than sustained recoveries,” Santiment said.
Some marketers use this opposite view accordingly. Around the time Bitcoin fell to a yearly low of $60,000 in February, Gemini founder Tyler Winklevoss he said in X’s post that “sentiment in crypto is so bad right now that I’m actually quite optimistic.”
Source: Quinten Francois
Crypto fear and greed Indexwhich measures overall sentiment in the crypto market, on Saturday posted an “Extreme Fear” rating of 23. MN Trading Capital founder Michael van de Poppe he said that the current sentiment in the crypto market is the worst it has ever seen. “Worse than 2022, 2018. Nobody even believes in the future of crypto assets doing well,” he added.
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While some argue that retail sentiment has become less important as institutional interest in Bitcoin has grown, others, including Swan Bitcoin CEO Cory Klippsten, disagree.
“It still is. You have to remember that BlackRock doesn’t own Bitcoin and Fidelity owns Bitcoin. It’s a bunch of retail accounts, actually buying it,” Klippsten said.
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