Bitcoin's sentiment among social media users has turned negative as its price dropped below $77,000. Analytics firm Santiment reports that the Positive/Negative Sentiment metric, which gauges social media comments on Bitcoin, has fallen to 0.94, indicating a slight dominance of bearish comments. This is the lowest sentiment level since April 21st. Historically, such bearish sentiment could signal a potential rebound, as markets often move contrary to prevailing crowd opinions.
In related developments, the number of Bitcoin whale wallets, holding at least 100 BTC, has increased by 11.2% over the past year, reaching 20,229. This trend suggests growing interest from major investors and institutions. Meanwhile, Bitcoin's price has declined to $76,400, marking a 5% drop over the past week.
Bitcoin Sentiment Turns Bearish as Price Falls Below $77,000
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