According to cryptocurrency sentiment platform Santiment, sentiment towards Bitcoin on social media has reached its most bullish level of the year, even though the overall cryptocurrency market is withering.
“Bitcoin sentiment surges to 2.23 bullish comments for every bearish one – most lopsided positive rate in 2026,” Santiment he said in a report published on Saturday.
“The previous two most positive days of the year were preceded by short-term price declines, while strongly negative readings marked local bottoms. The current euphoria contrasts sharply with the bearish picture of ETF flows and warrants caution,” Santiment said. Spot Bitcoin ETFs saw their tenth consecutive trading day of outflows on Friday total net write-offs as of May 15, it had exceeded $2.97 billion.
Source: Michael Sullivan
Cryptocurrency market participants often watch broader market sentiment to gauge how other investors are feeling and make their own buying or selling decisions based on where they think the market may be heading in the near future.
Historically, however, the market has moved in the opposite direction to the expectations of most market participants. “In the past, extremely positive sentiment readings were more likely to precede short-term declines than sustained gains,” Santiment said.
Some investors apply this contradictory view accordingly. Around the time Bitcoin dropped to a one-year low of $60,000 in February, Gemini founder Tyler Winklevoss he said in a post on X that “crypto sentiment is so bad right now that I’m quite optimistic.”
Source: Quinten Francois
Crypto fear and greed Indexwhich measures overall cryptocurrency market sentiment, posted an “Extreme Fear” score of 23 on Saturday. MN Trading Capital founder Michael van de Poppe he said that the current crypto market sentiment is the worst he 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 lost steam as institutional interest in Bitcoin grows, others, including Swan Bitcoin CEO Cory Klippsten, disagree.
“It’s still the case. It’s important to remember that it’s not like BlackRock owns Bitcoin and Fidelity owns Bitcoin. It’s a group of retail accounts, most of them actually buying it,” Klippsten said.
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