Bitcoin's recent price action, which has seen it break past the $110,000 mark multiple times this week, has driven bullish sentiment to a seven-month high. According to crypto analytics platform Santiment, as of June 11, there are now 2.12 positive Bitcoin comments for every negative comment on social media. This is the highest positive-to-negative comment ratio reported since November 6, 2022, following Donald Trump's election win when Bitcoin first crossed the $70,000 level. Retail interest in Bitcoin has lagged behind throughout this crypto cycle, with the price increases primarily attributed to institutional and nation-state involvement. However, a recovery in retail sentiment might further boost Bitcoin's market presence.
On June 11, Santiment recorded 504 positive sentiments compared to 238 negative ones, reflecting growing optimism within the community. Despite Bitcoin currently trading at $108,635—down 3% from its all-time high of $112,000 on May 22—market sentiment remains strong. The Crypto Fear & Greed Index ranks the sentiment at 71 out of 100, placing it firmly in the 'greed' zone.
Conversely, Google Trends data indicates that retail interest has not fully recovered, scoring just 32 out of 100 relative to peak interest observed in November 2022, when Bitcoin surged dramatically. While sentiment appears bullish, this dichotomy suggests that retail investors have yet to fully engage at these price levels.
On June 11, Santiment recorded 504 positive sentiments compared to 238 negative ones, reflecting growing optimism within the community. Despite Bitcoin currently trading at $108,635—down 3% from its all-time high of $112,000 on May 22—market sentiment remains strong. The Crypto Fear & Greed Index ranks the sentiment at 71 out of 100, placing it firmly in the 'greed' zone.
Conversely, Google Trends data indicates that retail interest has not fully recovered, scoring just 32 out of 100 relative to peak interest observed in November 2022, when Bitcoin surged dramatically. While sentiment appears bullish, this dichotomy suggests that retail investors have yet to fully engage at these price levels.
