Crypto sentiment hits extreme fear as Bitcoin drops; analysts point to technical patterns and ETF outflows signaling potential stabilization.
Crypto sentiment has reached its lowest point in over eight months. The Crypto Fear & Greed Index posted a score of 10 on Saturday and showed extreme fear in the market.
Bitcoin fell below $95,000 on Friday and has not yet recovered above $96,000, according to CoinMarketCap.
This February low followed strong spot Bitcoin ETF outflows, which rose above $1.14 billion in a single day. At that time, Bitcoin dropped from $102,000 to $84,000 within the month.
Analysts now see similarities but note that the market may not be as bearish as before.
Indicators Suggest Market May Stabilise
Market participants tend to use sentiment indexes to gauge whether conditions favour buying or selling. Despite the extreme fear reading, some analysts see signs that a reversal could be forming.
Sven Henrich, founder of NorthmanTrader noted a “falling wedge” pattern in Bitcoin’s chart. He said this structure often calls for a likely positive move for bulls.
Something potentially positive for #Bitcoin bulls.
Falling wedge, positive divergence.#unconfirmed as of yet. pic.twitter.com/GTmpVlrCC4— Sven Henrich (@NorthmanTrader) November 13, 2025
A Messari research manager, known as DRXL online, added that the gap between headlines and sentiment is unusual. He observed that despite fears, many underlying indicators are still healthy.
Some experts say that the lack of a year-end surge in Bitcoin may be a healthy sign.
Market Bottoms Rarely Align with Public Opinion
Santiment has also taken to X to warn investors against relying on market consensus for bottom predictions. Their research shows that market lows rarely occur when most traders think the bottom is near.
They noted that recent discussions on social media indicated that many traders believed the worst of the Bitcoin decline had passed. Historically, this sentiment often comes before further downside, not recovery.
Analysts are pointing out psychological price levels as important triggers. Bitcoin falling below $100,000 recently caused widespread attention, even though Santiment advises investors to be skeptical when these milestones are heavily discussed.
Related Reading: Michael Saylor Buys 487 Bitcoin as Crypto Market Shows Rebound
Social Media Sentiment Turns Negative
Bitcoin’s social dominance reached over 40% during the recent market drop. Santiment reported that positive comments about Bitcoin fell to a one-month low during this time.
Many traders blamed Strategy chairman Michael Saylor for selling Bitcoin during the decline, causing social media mentions of his name to surge. However, Saylor denied selling any Bitcoin during the flash crash.
There is no truth to this rumor.
— Michael Saylor (@saylor) November 14, 2025
Despite the negative chatter, some prominent figures are still bullish. BitMEX co-founder Arthur Hayes and BitMine chair Tom Lee maintained forecasts that Bitcoin could reach $200,000 or more by year-end.
Spot Bitcoin ETF Outflows May Signal a Bottom
Santiment pointed out that massive outflows from US-based spot Bitcoin ETFs could mark local market bottoms. Large inflows often coincide with price tops, while large outflows indicate retail panic and accumulation.
Over the past three trading days, spot Bitcoin ETFs saw $1.17 billion in outflows.
On Thursday alone, ETFs recorded $866 million in net outflows, in the second-largest single-day loss after February 25. Analysts say that this may create a base for future upward price movement.
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