Analysts at Santiment have reported an intensifying clash between bulls and bears and a deterioration in cryptocurrency market sentiment.
“Amid some market calm, traders are showing impatience and signs of bearish sentiment,” noted the firm’s marketing director, Brian Quinlivan.
According to his observations, the ratio of bullish to bearish comments on social media is 1.03 to 1.
“The last time this was observed was on April 6 during the tariff panic,” the expert emphasized.
Quinlivan, however, views the bull and bear standoff as a positive signal—he suggests that prices typically move in the opposite direction of retail investors’ expectations.
Neutralizing the Fear Index
The popular Fear and Greed Index in the crypto community has dropped to a neutral level of 54 for the first time in a long while.
The average index value from June 9 to 15 was 61 points—a level of “greed.” A month earlier, the indicator was even higher at 70.
Whales Accumulate Bitcoin
Quinlivan noted that large and small holders of digital gold are “moving in different directions.”
According to Santiment, 231 new wallets with balances over 10 BTC have emerged in the past 10 days. Meanwhile, more than 37,000 addresses with smaller amounts have sold off their holdings of the leading cryptocurrency.
“When large players accumulate and retail investors lose confidence, it historically signals a return of bullish momentum to the market,” Quinlivan emphasized.
At the time of writing, Bitcoin is trading around $106,000. The asset has risen by 1% in the last 24 hours, according to CoinGecko.
Last week, Santiment highlighted an improvement in market sentiment and the steadfastness of large holders of digital gold.