Fear Has Washed Across Social Media, Bitcoin Retraces to 2-Month Lows!

😱 With Bitcoin falling as low as $66.9K today, sentiment across social media is signaling that the average trader is in ’Extreme Fear’ mode. Traders have turned on $BTC after seeing the lowest market values since April 5th, and Saylor’s @Strategy selling has been a prime initiator.
📊 Historically, when there are more bearish comments across socials than bullish ones, this is a sign of retail capitulation. Following this, markets will usually (but not always) experience a relief rally. Crypto prices move opposite to the crowd’s expectations, and right now our data indicates many traders expect sub-$60K or even sub-$50K Bitcoin in the near future.
🔖 Follow along with greed and fear here on this helpful Santiment chart any time!