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Bitcoin Social Sentiment Drops to Yearly Low, Signaling Bitcoin Breakout
Bitcoin could see another week of correction before it can recover above $100K, based on historical chart patterns.

Social sentiment around Bitcoin has reached its lowest level in 2024, which could signal an upcoming recovery above $100K for the world’s largest cryptocurrency.

Bitcoin’s price is currently down more than 10% from its all-time high of over $108,300 hit on December 17, and is trading above $97,150 as of 12:38 p.m. UTC, according to Cointelegraph data.

Following the 10% correction, social media sentiment around Bitcoin has dropped to its lowest level in 2024, with an average ratio of four to five positive comments versus negative comments related to Bitcoin.

However, this low retail investor sentiment could be a sign of an upcoming Bitcoin breakout, as market intelligence platform Santiment wrote in a post on December 22:

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