Bitcoin’s comment ratio has shifted sharply bearish, and Santiment said the change could matter for retail expectations if the price stays above $79,000 and pessimism persists.
The bullish-to-bearish comment ratio Santiment tracks stood at 0.51; on Oct. 20, it was about 1.8. At 0.51, bearish comments were more numerous than bullish ones, the firm said.
The measure tracks comments about Bitcoin rather than a count of trades.
Santiment said sustained negative chatter alongside prices above $79,000 would be consistent with a gap between market value and retail views. The firm called that interpretation a potential signal, not proof of a divergence.
The firm cited uncertainty around the U.S. midterm elections as one reason retail traders had grown uneasy, and said pessimism extended to most altcoins. Santiment added that exceptionally negative readings have at times been followed by a change in direction.
