Bitcoin Sentiment Turns Fearful Again as Santiment Data Shows Retail Still in Sell Mode
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The price of Bitcoin has been struggling to break above the key $71,000 resistance level and has now fallen to $67,012. Market intelligence platform Santiment reports that social sentiment around Bitcoin remains heavily bearish, with negative posts still far outweighing positive ones
Adding to the concern, overall public interest in Bitcoin is declining, as shown by the Fear & Greed Index dropping sharply to 11.
Bitcoin Sentiment Turns Fearful Again
The Santiment chart indicates that Bitcoin traders are still in a state of strong fear, even after the price recovery from the recent drop near $60K. Market sentiment has not recovered at the same pace as the price.
According to Santiment data, discussions on social media regarding words like "selling," "lower," and "bearish" expectations continue to outnumber positive ones like "buy-the-dip" and "higher price" optimism across social platforms.
This sentiment gap suggests that retail traders remain uneasy and are not fully trusting the current recovery. Many are still waiting on the sidelines rather than buying at present levels, which highlights continued hesitation across the market.
Eventually, Santiment's social volume and social dominance charts indicate that fear-driven narratives remain stronger than recovery confidence. After Bitcoin's sharp drop and partial rebound of roughly 10%, many traders are still expecting another leg down instead of a sustained uptrend.
Google Trends Shows Drop in Bitcoin Searches
However, this negative trend can also be seen in the Google Trends chart, which shows that search interest for the word "Bitcoin" has dropped sharply over the past week, reaching near the 20–25 range.
This means that fewer people are actively searching for news related to Bitcoin, which usually indicates lower retail interest and reduced market excitement
A significant increase in searches occurred on February 6, when interest reached 100. This happened because Bitcoin quickly recovered to around $70,000 after a sharp drop below $60,000
A decrease in search interest generally indicates that the market is entering a period of stability or consolidation, rather than a strong upward trend.
Why a Bearish Crowd Mood Can Be Bullish for Bitcoin
Even though market sentiment is currently negative, history shows that strong pessimism often creates good opportunities for price rebounds. When most traders are fearful, they hesitate to buy, allowing large investors and key market players to accumulate Bitcoin with little competition
Santiment data confirms that in the past, periods of extreme fear have frequently been followed by strong price recoveries.
As of now, Bitcoin is trading at $66,911, down 3.6% for the day. Experts predict that if BTC fails to recover and hold above the $66K level, it could drop again to test the $62,455 support zone.
On the other hand, if Bitcoin experiences a strong recovery above $71,000, it could pave the way for an upward rally towards $78,792.