Bitcoin Slumps Under $64K Amid Historic ‘Negative’ Sentiment Bitcoin’
s price has fallen to a five-week low of $63,700, down 9% over the past month. This decline coincides with four weeks of “
extreme negative”
crowd sentiment, according to Santiment’s analysis.
While this negative sentiment often precedes price bounces, other factors like $1 billion in whale sales, dollar strength, and ETF outflows are pressuring BTC. Google Trends data also shows declining retail interest. Some traders anticipate further drops to $60,000, though long-term outlooks remain bullish. The current mood highlights the market’s cyclical nature between fear and optimism.
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