The recent bear market has reduced the level of bullish comments about the price of Bitcoin, which may indicate a possible market bottom. 📉 Data from analytics firm Santiment shows that optimism about Bitcoin on social platforms has dropped significantly.

However, at the same time, bearish remarks also decreased, but not as sharply. Santiment says the decline in euphoria around Bitcoin is a potential bottom signal.

Since hitting a new all-time high in March, Bitcoin has traded between $60,000 and $70,000 and temporarily dipped below $60,000 before regaining key support.

Analysts note that the price of Bitcoin usually begins to rise a month before the halving event, but does not increase sharply immediately after it. Instead, it usually enters a sideways or consolidating phase before a bullish breakout occurs.