The feeling toward Bitcoin on social media has reached its most bullish level of the year, even as the overall crypto market is down, according to crypto sentiment platform Santiment.<\/p>\n
\u201cSentiment on Bitcoin has spiked to 2.23 bullish comments for every bearish one \u2014 the most lopsided positive ratio of 2026,\u201d Santiment said<\/span><\/a> in a report published on Saturday.<\/p>\n \u201cThe previous two biggest positive-ratio days of the year preceded short-term price pullbacks, while severely negative readings marked local bottoms. The current euphoria contrasts sharply with the bearish ETF flow picture and warrants caution,” Santiment said. Spot Bitcoin ETFs logged their tenth consecutive trading day of outflows on Friday, with total net redemptions<\/span><\/a> exceeding $2.97 billion since May 15.<\/p>\n Source: <\/em>Michael Sullivan<\/em><\/a><\/p>\n Crypto market participants often watch broader market sentiment to gauge how other investors feel and to inform their own decisions about whether to buy or sell, based on where they believe the market may be headed in the near term.<\/p>\n However, the market has historically moved in the opposite direction to what most market participants expect. \u201cExtreme positive sentiment readings have historically preceded short-term pullbacks more often than continued rallies,\u201d Santiment said.\u00a0<\/p>\n Some traders use this contrarian view accordingly. Around the time Bitcoin fell to its yearly low of $60,000 in February, Gemini founder Tyler Winklevoss said<\/span><\/a> in an X post that\u00a0 \u201cthe sentiment in crypto right now is so bad that I’m actually pretty optimistic.\u201d<\/p>\n Source: <\/em>Quinten Francois<\/em><\/a><\/p>\n The Crypto Fear & Greed Index<\/span><\/a>, which measures overall crypto market sentiment, posted an \u201cExtreme Fear\u201d score of 23 on Saturday. MN Trading Capital founder Michael van de Poppe said<\/span><\/a> that the current crypto market sentiment is the worst he has ever seen. \u201cWorse than 2022, 2018. Nobody even believes in a future of crypto assets that are going to do well,\u201d he added.<\/p>\n Related: <\/strong><\/em>Senator Lummis says China will ‘write the rules’ of the new financial era if CLARITY fails<\/strong><\/em><\/span><\/a><\/p>\n While some argue that retail sentiment has become less important as institutional interest in Bitcoin has grown, others, including Swan Bitcoin CEO Cory Klippsten, disagree.<\/p>\n \u201cIt still does. You have to remember it’s not like BlackRock owns the Bitcoin and Fidelity owns the Bitcoin. It’s a bunch of retail accounts, mostly that actually buy that,\u201d Klippsten said<\/a>.<\/p>\n![\"\"](\"https:\/\/s3-images.ctmedia.io\/media\/content\/screen-shot-2026-05-31-at-52354-am.png\")
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