Autor Cointelegraph By Ciaran Lyons

The feeling toward Bitcoin on social media has reached its most bullish level of the year, even as the overall crypto market is down, according to crypto sentiment platform Santiment.“Sentiment on Bitcoin has spiked to 2.23 bullish comments for every bearish one — the most lopsided positive ratio of 2026,” Santiment said in a report published on Saturday.“The previous two biggest positive-ratio days of the year preceded short-term price pullbacks, while severely negative readings marked local bottoms. The current euphoria contrasts sharply with the bearish ETF flow picture and warrants caution,” Santiment said. Spot Bitcoin ETFs logged their tenth consecutive trading day of outflows on Friday, with total net redemptions exceeding $2.97 billion since May 15.Source: Michael SullivanCrypto market participants often watch broader market sentiment to gauge how other investors feel and to inform their own decisions about whether to buy or sell, based on where they believe the market may be headed in the near term.However, the market has historically moved in the opposite direction to what most market participants expect. “Extreme positive sentiment readings have historically preceded short-term pullbacks more often than continued rallies,” Santiment said. Some traders use this contrarian view accordingly. Around the time Bitcoin fell to its yearly low of $60,000 in February, Gemini founder Tyler Winklevoss said in an X post that  “the sentiment in crypto right now is so bad that I’m actually pretty optimistic.”Source: Quinten FrancoisThe Crypto Fear & Greed Index, which measures overall crypto market sentiment, posted an “Extreme Fear” score of 23 on Saturday. MN Trading Capital founder Michael van de Poppe said that the current crypto market sentiment is the worst he has ever seen. “Worse than 2022, 2018. Nobody even believes in a future of crypto assets that are going to do well,” he added.Related: Senator Lummis says China will ‘write the rules’ of the new financial era if CLARITY failsWhile some argue that retail sentiment has become less important as institutional interest in Bitcoin has grown, others, including Swan Bitcoin CEO Cory Klippsten, disagree.“It still does. You have to remember it’s not like BlackRock owns the Bitcoin and Fidelity owns the Bitcoin. It’s a bunch of retail accounts, mostly that actually buy that,” Klippsten said.Magazine: HYPE chases $100 target, ETH could dump below $1800: Market Moves

Bitcoin could fall toward its February yearly low if it fails to maintain support above the $70,000 level, according to a crypto analyst.“Bitcoin is at a pivotal level, and if it doesn’t hold, we’re buying at

The Bitcoin treasury company space is becoming more divided between firms with actual financial strategies and those leaning more on promotion, according to one industry executive.“I think a lot of them don’t have the right capital structure, right. They don’t have the ability to actually deploy Bitcoin,” Sean Bill — co-founder of Bitcoin treasury company BSTR, alongside Adam Back  — said during an interview with Cointelegraph published to YouTube on Tuesday.“They’re really planning on having Bitcoin do all the talking for them,” Bill said. “I do think that you have a lot of carnival barkers in this space,” Bill said.Sean Bill spoke to Cointelegraph at BitcoinVegas. Source: CointelegraphBill said that works well to an extent if a company has “cheap and easy access to leverage in the marketplace.” If not, companies must engage in other activities to add value beyond just holding Bitcoin, Bill explained. “Otherwise, investors will go to an ETF, you know, and just use a simple product like that, Bill said.Bitcoin treasury companies have been one of the most talked-about narratives of the cycle, but questions have lingered over whether the sector is forming a bubble. While corporate Bitcoin treasuries have helped drive demand, they also introduce systemic risks. In a June 3, 2025, note to investors, Geoff Kendrick, head of digital assets at Standard Chartered Bank, said that a sharp price drop could trigger significant liquidations, while regulatory and market maturation may erode the premium for Bitcoin proxy stocks.Related: Bitcoin plums new six-week lows as analyst eyes BTC price dip ‘end’ at $72KThere are 198 public companies collectively holding around 1.25 million Bitcoin, according to BitcoinTreasuries data. Michael Saylor’s Strategy is the largest public corporate holder, with a treasury of 843,738 Bitcoin.On Wednesday, Cointelegraph reported that Bitcoin treasury company Nakamoto (NAKA) stock is down by about 67% year-to-date (YTD) and by more than 99% since its May 2025 peak of about $34 per share, reaching a low of about $0.16 per share in April before the reverse stock split on Friday.Nasdaq warned the company in December that its shares would be delisted after trading below $1 for at least 30 consecutive days, according to a Securities and Exchange Commission (SEC) filing.Magazine: HYPE chases $100 target, ETH could dump below $1800: Market Moves

Despite the growing institutional presence in crypto, retail sentiment is just as important as it was when Wall Street was largely on the sidelines, according to Swan Bitcoin CEO Cory Klippsten.“It still does. You have to remember it’s not like BlackRock owns the Bitcoin and Fidelity owns the Bitcoin. It’s a bunch of retail accounts mostly that actually buy that,” Klippsten said during an interview with Cointelegraph published to YouTube on Tuesday.Cory Klippsten spoke to Cointelegraph at BitcoinVegas 2026. Source: Cointelegraph“You know they’re buying it in a wrapper. But they still have to take real supply and custody it. And it comes out of the supply. So, you know, it’s still it is real demand in ETFs,” Klippsten said, adding:“There are some paper products and futures and things like that that are weird and take a little while to kind of work through the system. There is something to the idea that there is more supply in certain ways. But at the end of the day, if you want real on-chain Bitcoin, the fact that you can get it is what makes Bitcoin unique.”US-based spot Bitcoin ETFs have posted a combined $2.90 billion in net outflows since May 15, according to Farside data, while Bitcoin has slid approximately 9.5% over the same period. At the time of publication, Bitcoin is trading at $73,630, according to CoinMarketCap.Bitcoin is down 2.87% over the past 30 days. (CoinMarketCap)Meanwhile, sentiment toward the crypto market has been volatile in 2026. The Crypto Fear & Greed Index, which measures overall crypto market sentiment, posted an “Extreme Fear” score of 23 on Friday, signaling that investors are taking a cautious approach to the crypto market.Bitcoin price outlook for 2026: slim chancesKlippsten said his outlook on Bitcoin hitting a new all-time high in 2026 is now looking slim. Related: Bitcoin falls out of the global top 10 assets as market cap dips below $1.5THe said he thought there was around a 50% chance we’d see a new all-time high this year when Bitcoin was still trading around $95,000 earlier this year, but given it has declined around 23% since then, his odds have gone down.“I thought there was probably like a 50% chance that we’d see a new all-time high this year. And I’d say, given that we’re still in the 70s and, you know, and that we went all the way down to 60, I’d probably handicap that down to like 20 or 25% chance that we get a new [high]” he said.Magazine: ETH bears growling, Tom Lee’s buying, XRP to ‘explode’: Market Moves

The recent streak of outflows from US-based spot Bitcoin ETFs, totaling more than $1 billion over the past trading week, suggests a potential buying opportunity for the world’s largest cryptocurrency, according to crypto sentiment platform Santiment.“Santiment’s analysts read these flows as a counter-indicator, since ETFs disproportionately reflect retail conviction rather than smart money positioning,” Santiment said in a report on Friday.Santiment said retail investors were losing patience after Bitcoin (BTC) failed to hold above $80,000 in May. Bitcoin is trading at $75,410 at the time of publication, after reaching as high as $79,052 on May 16, according to CoinMarketCap.Santiment’s take contrasts with broader crypto industry viewThe view contrasts with the broader crypto market narrative, where consecutive days of outflows from spot Bitcoin ETFs are often seen as a bearish signal and a sign of weakening retail sentiment that could point to further downside. However, Santiment argues the recent outflows instead resemble a healthy market reset.Bitcoin is down 4.44% over the past 30 days. Source: CoinMarketCap“Sustained ETF outflows have historically correlated with conditions favorable for patient accumulation rather than panic,” Santiment said.Spot Bitcoin ETFs have recorded outflows across the past six trading sessions, with the 11 funds seeing a combined $1.26 billion in net outflows over just the last five days, according to Farside data. Bitcoin ETFs are going to pass all-time high inflows: AnalystSome analysts anticipate the spot Bitcoin ETF outflow trend will reverse in the near term. ETF analyst James Seyffart said on Michael van de Poppe’s podcast, “New Era Finance,” published on YouTube on Friday, that Bitcoin ETFs have now clawed back most of the $9 billion in outflows recorded between October and February.Related: SEC’s Peirce tempers expectations over tokenized stocks exemption“We’re around 60 billion inflows now since the ETFs’ launch. So, we’re almost at that all-time high peak,” Seyffart said. “I think we’re going to pass it. And we have so many other ETFs coming to market,” Seyffart said.Magazine: ETH bears growling, Tom Lee’s buying, XRP to ‘explode’: Market Moves