Bearish Bitcoin sentiment on social media has reached its highest level since late February, according to crypto analytics firm Santiment.

The data tracks the ratio of bullish to bearish Bitcoin comments across X, Reddit, and other platforms, drawing from a large sample of crypto-focused accounts.

FUD at a five-week high

On Saturday, the bullish-to-bearish ratio dropped to 0.81 — meaning roughly five bearish comments for every four bullish ones, the lowest reading since Feb. 28.

Santiment noted:

“FUD has crept back in with the community showing a key lack of optimism.”

Bitcoin was trading around $67,100 at the time of publication, down 5.53% over the past 30 days according to CoinMarketCap.

The Bitcoin Fear and Greed Index reinforced the cautious mood, posting a score of just 12 on Sunday — firmly in “Extreme Fear” territory.

Contrarian signal for a rebound?

Santiment has long argued that crowd sentiment tends to be a contrarian indicator, and the firm doubled down on that view here.

Santiment stated:

“Markets typically move in the opposite direction of the crowd’s expectations. A high level of FUD like this is a good sign that things can turn positive sooner rather than later.”

CLARITY Act as a wildcard

Santiment also flagged the US CLARITY Act as a potential “what-if” catalyst that may be holding back bitcoin’s price.

Coinbase chief legal officer Paul Grewal said the legislation is:

“Moving toward a markup hearing in the US Senate Banking Committee and could eventually move to a floor vote if senators resolve the stablecoin yield dispute.”

The bill remains closely watched by the broader crypto industry as a potential regulatory turning point.

With the monthly RSI still depressed and sentiment at multi-week lows, many traders are watching whether the contrarian setup Santiment describes will play out in the weeks ahead.