Tension in the Bitcoin Community: Santiment Highlights the Battle Between Fear and Greed

Analysts at Santiment have reported an intensifying conflict between bulls and bears, highlighting a decline in market sentiment within the cryptocurrency space.

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

However, Quinlivan views the struggle between bulls and bears as a positive indicator, noting that prices typically move in the opposite direction of retail investors’ expectations.

The well-known Fear and Greed Index in the crypto community has recently dropped to a neutral level of 54 for the first time in quite a while.

The average index from June 9 to June 15 was recorded at 61 points, categorized as «greed.» A month prior, the measurement was even higher at 70.

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

According to Santiment, 231 new wallets holding more than 10 BTC have been created in the past 10 days. In contrast, over 37,000 addresses with smaller balances have liquidated their holdings of the premier cryptocurrency.

At the time of writing, Bitcoin is trading around $106,000. The asset has seen a 1% increase over the past 24 hours, according to CoinGecko.

Recall that a week ago, Santiment noted an improvement in market sentiment and the steadfastness of major holders of digital gold.