Santiment analysts in their report recorded an increase in negative sentiment in the cryptocurrency market.
Some bizarrely high levels of negative #crypto sentiment has appeared this weekend, particularly here on #Twitter. It’s hard to gauge what may be contributing to one of the highest levels of #FUD @santimentfeed has ever recorded. Read our thoughts!
— Santiment (@santimentfeed) March 5, 2023
Basically, the negative trend is observed in social networks, in particular on Twitter. #cryptocrash has become a key hashtag in recent days, analysts have pointed out.
On the social sentiment chart, which shows the ratio of bullish and bearish words, it can be seen that a surge of negativity began after the recent pullback of bitcoin below $22,000.
“It is difficult to assess what caused one of the highest levels FUDthat have ever been recorded by Santiment,” the experts added.
Recall that some on-chain data indicated the potential for further growth in the price of bitcoin, according to an analytical report by bitcoinlinux.
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