Battles of Sentiment: Santiment Reveals Growing Tensions in the Bitcoin Community

Analysts at Santiment have reported a growing conflict between bulls and bears, along with a decline in market sentiment in the cryptocurrency sector.

According to their observations, the ratio of bullish to bearish comments on social media stands at 1.03 to 1.

However, Quinlivan views the ongoing struggle between bulls and bears as a positive sign—he suggests that prices tend to trend in the opposite direction of retail investors’ expectations.

The widely recognized Fear and Greed Index in the cryptocurrency community has recently dropped to a neutral level of 54 for the first time in quite a while.

The average index value from June 9 to 15 was recorded at 61 points, indicating a state of «greed.» The previous month, the index was even higher at 70.

Quinlivan pointed out that large and small holders of digital gold are «moving in different directions.»

According to Santiment, 231 new wallets holding over 10 BTC have been created in the last ten days. Meanwhile, more than 37,000 addresses with smaller balances have sold off their holdings of the leading cryptocurrency.

At the time of writing, Bitcoin is trading around $106,000, having increased by 1% in the past 24 hours, according to CoinGecko.

It’s worth noting that just a week ago, Santiment indicated an improvement in market sentiment and the steadfastness of large holders of digital gold.