Bitcoin’s Price Drop Fuels Negative Sentiment, Signaling Potential Buying Opportunity

Recent price declines for Bitcoin have triggered a wave of pessimism among retail investors, reaching record lows as indicated by Santiment data. The cryptocurrency dropped below $113,000 on August 20th, leading to widespread negative sentiment on social media platforms. This marks the most pessimistic outlook since June’s market scare, and highlights the divergence between retail sentiment and the broader market behavior.