Bitcoinโs share of crypto-related discussions has surged above 40% even as positive sentiment toward the asset has fallen to its lowest level in more than a month, according to analytics firm Santiment.
The company is urging traders not to assume the market has already established a durable bottom, warning that collective confidence in a floor often precedes further downside.
In a report published Saturday, Santiment cautioned that โtrue bottoms often form when the majority expects prices to fall further,โ adding that traders should โbe cautious when you see a widespread consensus forming about a specific price bottom.โ The remarks follow Bitcoinโs brief dip below $95,000 on Friday during a broader tech-sector sell-off that pressured digital assets.
Santiment Flags โWorst Is Overโ Bunker as Contrarian Signal
Santiment pointed to the significant increase in social-media assertions that the worst is over because this sort of statement has historically been used at the moments of persistent weakness, rather than recovery.
The company observed that bottom-calling would go on a run whenever Bitcoin passed significant psychological levels, the latest of which is the fall below 100,000.
The analytics site recorded that the balance of positive to negative commentary in Bitcoin is at its lowest point since the first of October, and that social dominance is above 40 percent. The report added that since the price of Bitcoin plummeted, its social dominance has soared to more than 40, indicating that it is the subject of an exceptionally scary discussion.
References to Saylor also shot up sharply as the prices fell, with some market observers trying to associate the decline with Strategy chairman Michael Saylor. On CNBC, Saylor refuted the claims that the company sold any of its holdings regarding Bitcoin.
Bottom is in. pic.twitter.com/YmlHq7flr0
โ ๐๐ ๐ฆ๐ค๐ฅ๐๐โ๐ ๐งฒ (@el_crypto_prof) November 14, 2025
Santiment further stated that recent spot Bitcoin ETF outflows which currently stand at 1.17 billion in the last three sessions can eventually be positive.
The firm said large inflows and outflows of ETFs have frequently indicated local price peaks and market troughs respectively, indicating retail panic. On Thursday, the Net outflows of $866 million were second highest daily withdrawal in the history of the company.
The deteriorating mood backdrop has brought the Crypto Fear and Greed Index to the lowest level since Feb. 27 with an Extreme Fear of 10.
Bitcoin Struggles as Analysts Downplay Fears
Bitcoin has remained stuck below the $96,000 mark since the steep drop on Friday, which follows the market trend seen earlier this year wherein the asset fell between 102,000 and 84,000. Nevertheless, there are analysts who feel that the current environment is not as bad as it has been before.
Andre Dragosh, the head of research of Europe at Bitwise, claimed the landscape is not as dismal as previous corrections, noting that Bitwise sentiment index is performing a positive divergence which he claimed.
๐ดUPDATE: Our Cryptoasset Sentiment Index also continues to show a positive divergence.
Read: Sentiment index is bearish but less so than during previous corrections despite lower prices.
Sellers are exhausted and it shows. https://t.co/GYl5Ytc5zR pic.twitter.com/XxSeuo5Ewb
โ Andrรฉ Dragosch, PhDโก (@Andre_Dragosch) November 14, 2025
One of the major headwinds is macro uncertainty. Even though President Donald Trump has just signed a law to end the longest government shutdown in U.S. history, which some traders attributed to increasing volatility, it has been replaced by an interest in the next rate decision made by the Federal Reserve.
Although the overall sentiment is rather pessimistic, there are positive technical signs to some strategy analysts. Sven Henrich, the founder of NorthmanTrader, outlined a falling wedge pattern and a case of positive divergence, calling the formation as potentially positive to Bitcoin bulls.
Some indicate an inexplicably large disjunction between sentiment and fundamentals. Messari research manager, DRXL, stated that after eight years in the industry he had never experienced such a mismatch between the headlines and the sentiment and added, โEverything we have ever dreamed of is coming true, however, it just seems out of place, somehow, like it is over.
