According to data shared by crypto market intelligence firm Santiment, public opinion towards Bitcoin is currently negative and has fallen to its lowest value since October 2020. Bitcoin’s negative sentiment may be headed for even lower levels if the current trend is sustained for much longer. Santiment wrote:
Since Elon Musk sent the crypto market into a state of panic in May, Bitcoin has been struggling to stay above $40k. The poor market conditions have been further exacerbated by China’s move to clamp down on Bitcoin mining and trading. As of press time, the flagship cryptocurrency was exchanging hands at $33,600.
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Source: Cryptocurrency - investing.com
