Bitcoin social media bearish sentiment hits a 5-week high

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Odaily Planet Daily reports that Santiment says bearish comments about Bitcoin on social media have risen to a 5-week high. Data shows that the ratio of bullish to bearish comments about Bitcoin is 0.81, meaning there are about 5 bearish comments for every 4 bullish comments. Santiment notes that the market often moves in the opposite direction of popular expectations; such high levels of FUD sentiment are a common ingredient in price rebounds and may indicate that prices could improve sooner than expected. In addition, the Crypto Fear and Greed Index scored 12 on Sunday and has remained in the Extreme Fear range for now. Bitcoin is currently trading at $67,100, down 5.53% over the past 30 days.

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