With Bitcoin falling below $90K (a couple hours ago) for the first time since April 19th, it's time for us to investigate how much retail FUD is really showing up in our social data. It's easy to figure that a -28% drop in Bitcoin's market value over the past 6 weeks is naturally going to lead to a lot of very angry moods in crypto right now.

And sure, you're right... it's easy to find more than a fair share of posts from frustrated traders who feel like they've been bamboozled after so many green months the past three years now. And many KOL's showing maximal fear mongering.

You have posts that point to cyclical patterns, implying an upcoming bear market is a given based on history likely to repeat itself:

You have others pointing to whale wallets trimming their bags (note their wording of "dumping" vs. "dumped", implying that the same dumps will indefinitely continue:

And major investing corporations declaring that we are not only in a bear market, but that it's 'deepening':

Yes, the major news is that 2025 is now officially a negative year for Bitcoin, with its market value down -4.4% compared to its starting point of $94.4K when markets opened on January 1, 2025. This statistic definitely can do wonders to the trader psyche, especially considering all-time high celebrations were being had just six weeks ago... But such is crypto. If you know, you know, right?

And we reported on this earlier, but take a look at how high Bitcoin's social dominance has gotten on this decline compared to the next highest non-stablecoins. Clearly, the narrative has shifted to Bitcoin and how far it can fall.

Many eyes are also on Bitcoin's whale wallets right now, and for good reason. We've put out many content pieces that stress the importance of how key stakeholders are behaving during times like this. But equally important is how retail traders are buying (or selling) this freefall dip.

As we can see, it hasn't been pretty when it comes to wallets holding 10-10K BTC. Over the past week, they have collectively sold off 77,120 Bitcoin, worth 0.44% of the entire supply. Bitcoin's market value, and all of crypto, are reliant on whales and sharks continuing to add to their bags over time. And when they reverse courtse suddenly like this, painful drops shouldn't come as too much of a surprise.

And for good measure, retail wallets holding 0.01 or less BTC are still hanging on for dear life. There aren't any significant signs of them selling off the small amount of coins these small wallets collectively hold. But as for how the commentary has shifted from the retailers...

There has been a clear shift in price predictions among the crowd. The two colored bars represent:

🟦 Total mentions of Bitcoin prices between $40K to $80K

🟥 Total mentions of Bitcoin prices between $130K to $170K

As we can see, traders were predicting even higher prices ($130K and beyond) back when Bitcoin hit its $125.8K all-time high on October 6th. But things have gradually switched to where we are - dominant predictions of $80K and below. Though we haven't seen prices that low since 2024, traders certainly aren't being shy about discussing how low things can go now that we've freefallen the way we have. Generally, this is a good thing to see so many bearish traders and predictors out there, even if retail's overall holdings haven't really changed much.

And what about mentions of buying Bitcoin's dip? During the 4-hour interval at the time of this writing, social media is discussing this topic at the highest frequency since the first week of March, an 8-month high.

Historically, when dip buy interest is high, that means that the crowd is still a bit too confident that Bitcoin can rebound and recover. We ideally need to see pain and misery spouting across our timelines.

Finally, take a look at how much Bitcoin is being discussed compared to the other top trending tokens right now.

Figuratively, it's pretty clear that all eyes are on Bitcoin right now. The crowd will need things to look a bit more grim before they really begin to jump ship. Keep a close eye on when the major FUD signals start to light up, and we'll keep you posted in our upcoming insights based on what we see!

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Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.