Bitcoin’s social sentiment has hit its lowest level of 2024 following a 10% correction from its all-time high of $108,300 on Dec. 17. As of Dec. 22, Bitcoin is trading at $95,349, down from $97,150 earlier in the day, according to Cointelegraph.
Market intelligence platform Santiment notes that the current 4:5 ratio of positive to negative Bitcoin comments reflects severe FUD (fear, uncertainty, and doubt) among retail investors. Historically, such sentiment lows have preceded major recoveries.
Santiment’s analysts believe this negative sentiment could signal an upcoming breakout, potentially pushing Bitcoin back above the $100,000 mark in line with historical patterns.
Source: Cointelegraph
