As the wind reversed in the Bitcoin world, the largest cryptocurrency fell to the $67,000 range after failing to overcome the critical resistance level of $71,000, causing deep concern for its investors. According to Santiment data, while negative posts on social media left positive expectations behind, the sharp decline in the Fear and Greed Index to 11 points proves that retail investors have withdrawn from the market. While narratives focused on “sale” and “decline” are gaining strength in social media, the temporary interest on February 6 has been replaced by silence and cautious waiting.
Fear in the Markets and Social Media Impasse
The cryptocurrency market has not fully gained investor confidence despite Bitcoin’s partial recovery from $60,000. Current data shared by Santiment reveals that the majority of investors are still in “fear” mode and are skeptical of price increases. Analyzes made in social media; It clearly documents that optimistic terms like “buy the dip” or “bullish” are being replaced by pessimistic terms like “lower lows” and “bearish expectations.”
This reluctant attitude of individual investors leads to a serious loss of volume and uncertainty in the market. While the Bitcoin price tries to hold on around $67,000, the majority of investors prefer to wait on the sidelines instead of making a new buying move. Fear-driven narratives that remain dominant on social media show that market participants are wary of the next bearish wave, even though the price has rebounded by 10%.
Loss of Interest and Technical Support Levels
Google Trends data shows that general public interest in Bitcoin has dropped sharply in the last week, falling to the 20-25 range. The search volume, which reached 100 points on February 6, when the price was pushing 70 thousand dollars, indicates that the market has now lost its excitement. This weakening of search interest is generally accepted as an indicator that markets are entering a consolidation process or that individual investors are shifting their attention to other areas.
From a technical perspective, the $66,000 level serves as a vital stronghold for Bitcoin. Analysts warn that if the price fails to sustain above this point, there may be a sharp pullback to the $62,455 support zone. On the other hand, it is known that periods of extreme pessimism in history often create opportunities for big players to collect. If Bitcoin manages to break through the $71,000 barrier with strong volume, a breakout of the route to new highs of $78,792 remains on the cards.
