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The crypto market has seen a sharp increase in negative rhetoric on social media, noted the analytical platform Santiment. Words like "dead," "dying," "over," "ended," "ending," and "finished" in relation to Bitcoin have once again gained popularity in discussions on social media platforms X, Reddit, and Telegram. Experts believe this is a signal that the patience of retail investors is waning, and falling prices are making them perceive temporary market weakness as an inevitable failure.
Similar spikes in negativity in the past have often preceded market reversals, as noted by Santiment. They emphasized that "crypto markets often move against the crowd when it becomes too confident that the upward movement is over."
When talk of the "death of cryptocurrency" intensifies, and Bitcoin continues to hold key levels, "strong hands" continue to accumulate assets, and sellers leave the market, Santiment clarifies. In their opinion, this picture makes the current situation attractive for "patient buyers." And mass declarations of the "death" of cryptocurrencies have historically appeared when selling pressure was already exhausted.
The previous surge in such rhetoric was observed in June when the Bitcoin price twice fell below $60,000 per coin, updating the lowest price level since late 2024. After that, the cryptocurrency's price recovered by about 10% from the low within a week or two.
The "fear" situation Santiment mentions under current conditions (as of August 14) is not related to a price drop, but rather to a lack of volatility and low trading volumes. As well as the fact that crypto investors have shifted their interest to trading stocks of traditional companies, commodities, and other assets from traditional finance.
In addition, experts call the current bear market one of the most difficult for the crypto industry. Hundreds of crypto projects, including crypto exchanges, have ceased operations, and 80% of all protocol revenues are concentrated in three separate projects.
As of August 14, the Bitcoin price is below $63,000, continuing to trade in a narrow range of $60,000–$66,000 since June. And since July, its price has been in an even narrower corridor of $62,000–$65,000. Since the beginning of the year, the Bitcoin price has fallen by almost 30%, and by 50% from its record high of $126,200, reached in early October last year.
This dynamic is accompanied by trading volume data, where the indicator has reached its lowest level since 2019, expressed in terms of Bitcoin amount. As well as record outflows of capital from Bitcoin-based exchange-traded funds (ETFs). In June alone, all major Bitcoin ETFs recorded outflows of more than $4.5 billion from investors. The total outflow since the beginning of the year has exceeded $4.7 billion, despite billions of dollars of inflow in individual months.
Months-long 'Fear' on the Crypto Market
The current surge in negativity on social media is occurring against the backdrop of a prolonged stay of the market in the "fear" zone. The Fear & Greed Index, calculated by the Alternative platform, stood at 29 on August 14, corresponding to a state of "fear."
It is worth noting that the last time the index briefly exited the fear zone was in May and January of this year. However, sentiment then deteriorated again. Prior to that, the index was in the "greed" zone, i.e., positive market sentiment, on October 10, 2025—the day of the largest crypto market crash, which led to liquidations of trading positions totaling at least $19 billion.
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