Retail traders' attitudes towards Bitcoin are almost evenly split between bearish and bullish sentiments. Currently, the market sentiment for this cryptocurrency is at a low level, a situation last seen in April when Donald Trump's global tariff policy severely impacted global markets.
Brian Quinlivan, the marketing director of the cryptocurrency research platform Santiment, pointed out on Thursday: "As the crypto market enters a brief period of stagnation, traders are showing clear signs of impatience and bearish sentiment."
He further explained that the company's social media analysis found: "Currently, there is only 1.03 bearish comments for every bullish comment, a situation that has not occurred since the peak of FUD (fear, uncertainty, and doubt) during the initial reaction to the tariff policy on April 6."
Quinlivan stated that this indicator "is often seen as a bullish signal," as the market "historically tends to move in the opposite direction of retail expectations."
Santiment's Sanbase platform uses social tools to monitor changes in cryptocurrency topics and trader sentiment across social channels like Telegram, Discord, Reddit, and X.
Meanwhile, another sentiment tracking tool, the "Crypto Fear and Greed Index," dropped to 54 out of 100 on Friday, pulling the market attitude back from the "greed" range to the "neutral" range.
According to the calculation method of this index, its score is based on a variety of signals that influence trader and investor behavior, including Google Trends, market surveys, market momentum, market dominance, social media, and market volatility.
From June 9 to 15, the average score of the index was 61, indicating that the market was in a "greed" state. Last month, the average score of the index was even higher, reaching 70, also in the "greed" range.
In another report on Thursday, Quinlivan noted that Bitcoin whales and small holders are acting in "two completely different directions."
Santiment's research found that in the past 10 days, 231 wallets holding more than 10 Bitcoins were added, while over 37,000 wallets holding less than 10 Bitcoins chose to sell their holdings during the same period.
Quinlivan emphasized: "When large wallets are actively accumulating while retail confidence declines, it historically tends to be a perfect combination for the Bitcoin market to eventually regain bullish momentum."
According to CoinGecko, Bitcoin is currently trading at around $104,600, having risen 3% over the past 14 days.
In the past month, major holders of Ethereum (ETH) have also been actively increasing their holdings, while retail investors tend to cash out.
Vugar Usi Zade, the operations director of Bitget, told Cointelegraph in early June that retail trading has shifted from blind speculation to more practical and sustainable use cases.
Related: Ethereum (ETH) bulls must break through $28,000: What will trigger a "sharp rise"?
Original article: “Santiment: Bitcoin (BTC) Bull-Bear Divide, Market Sentiment Again Falls into ‘Extreme Fear’”
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