The price of Bitcoin is retracing back to the lowest levels seen so far in 2026, and its social sentiment has also followed a similar trend.

While the crypto market volatility still persists, pulling Bitcoin far below the $70,000 level, market sentiment surrounding Bitcoin has turned increasingly bearish.

Bitcoin traders turn bearish

On Saturday, April 4, Santiment’s Sanbase analytics platform provided new social data revealing that Bitcoin has reached the highest level of bearish discussions since late February.

This sharp plunge in the Bitcoin social sentiment comes as Bitcoin’s trading price pulls back around the $66,800 level amid the prolonged market volatility.

The social data provided by the source was gathered through recent analytics tracking discussions across major social platforms, including X, Reddit and Telegram.

The analysis reveals that negative statements on Bitcoin have recently outweighed bullish sentiment among crypto investors.

Per the data, the ratio of positive to negative Bitcoin commentary dropped to 0.81 bullish comments for every one bearish comment, marking the lowest level of positive sentiment seen since Feb. 28.

As seen across the social media platforms, about five bearish comments are made for every four bullish ones. As such, the broad crypto market has seen a significant increase in fear, uncertainty and doubt (FUD), especially on Bitcoin.

Institutional Bitcoin investors stay resilient

The bearish commentary on Bitcoin is seen mostly among retail investors and non-crypto users as large holders and institutions holding Bitcoin have remained optimistic about the asset.

Despite the broad crypto market weakness, institutional holders continue to scoop the asset through Bitcoin ETFs, and large treasuries like Strategy and Metaplanet are still doubling down regardless of its trading price.