Bitcoin sentiment once again turned anxious as Santimento displayed bearish social posts dominating the online bullish buy conversation.
Interest in Bitcoin in Google searches has plummeted, indicating a decline in public attention and overall retail excitement.
Looking at past Santimento trends, we see that Bitcoin prices are often preceded by periods of extreme fear before a strong recovery.
Bitcoin price has struggled to break above the key resistance level of $71,000 and has now fallen to $67,012. According to a report by market intelligence platform Santiment, social sentiment surrounding Bitcoin remains extremely bearish, with negative posts still far outnumbering positive ones.
Adding to the concerns, public interest in Bitcoin as a whole is declining, as evidenced by the Fear & Greed Index plummeting to 11.
Bitcoin sentiment turns fearful again
The Santimento chart shows that Bitcoin traders are still in strong fear mode even after the price has recovered from the recent drop of nearly $60,000. Market sentiment has not recovered at the same pace as prices.
According to Santiment data, across social platforms, social media discussions surrounding words such as “sell,” “down” and “bearish” predictions continue to outnumber positive discussions such as “buy on the buy” and “high” optimism.
This sentiment gap suggests that retail traders remain anxious and do not have full confidence in the current recovery. Many are still waiting and waiting rather than buying at current levels, highlighting continued hesitancy across the market.
Ultimately, Santimento’s social volume and social dominance graphs show that fear-based narratives remain stronger than confidence in recovery. After Bitcoin’s steep decline and partial rebound of around 10%, many traders still expect another drop rather than a sustained uptrend.
Google Trends shows a decline in searches for Bitcoin
However, this negative trend is also visible in the Google Trends graph, which shows that search interest for the word “Bitcoin” has dropped sharply over the past week, to near the 20-25 range.
This means fewer people are actively searching for Bitcoin-related news, which typically indicates less retail attention and less market excitement.
The biggest spike in searches occurred on February 6th, when interest reached 100. This is because after Bitcoin crashed below $60,000, it quickly recovered towards $70,000.
A decline in search interest generally suggests that the market is entering a moderate or consolidation phase rather than a strong bullish trend.
Why a bearish crowd mood becomes bullish for Bitcoin
Although market sentiment is currently negative, history has shown that strong pessimism often creates good opportunities for price rebounds. Most traders will be hesitant to buy if they feel scared, allowing large investors and major market participants to accumulate Bitcoin with little competition.
Santimento data confirms that periods of extreme fear have often been followed by strong price recoveries in the past.
Bitcoin is currently trading at $66,911, down 3.6% on the day. Experts predict that if Bitcoin fails to recover and sustain the $66,000 level, it could fall again and test the $62,455 support zone.
On the other hand, a strong recovery in Bitcoin above $71,000 could open the door for a bull run towards $78,792.