Retail sentiment has sharply turned bearish across major cryptocurrencies as markets test lower levels. According to Santiment data from social platforms, Bitcoin recorded 0.82 bullish comments for every bearish one, while Ethereum stood at 0.88. XRP showed the weakest ratio at just 0.49.
Sentiment analysts note that extreme retail fear has historically preceded market recoveries, as major rallies often begin when trader doubt is highest and positioning is heavily bearish. Santiment suggested that if bearish commentary continues to outweigh bullish sentiment, prices could see a strong relief rally.
Not all market participants share this optimistic outlook. Some analysts turned bearish after Bitcoin fell below the $74,914 higher-timeframe support level, interpreting this breakdown as a bearish shift in market structure. Under this scenario, Bitcoin could test the $65,500 to $62,500 range before buyers absorb selling pressure.
Whale Activity Diverges Across Assets
Large holders are positioning differently across the three assets. As Bitcoin dropped from $79,000 to below $73,000 over the past week, major Bitcoin holders offloaded more than 34,000 BTC, worth roughly $2.6 billion. Ethereum whales reduced holdings by approximately 17,800 ETH, valued at roughly $40 million.
XRP whales moved in the opposite direction, accumulating 65.32 million tokens worth nearly $72 million over four days, signaling different confidence levels between large holders across these markets.
ETF Outflows Continue
Investment products tracking these assets remained under pressure. Bitcoin ETFs saw $95 million in outflows on Tuesday, following a $201.08 million exit on Monday. Ethereum ETFs lost $1.32 million after $184.51 million in withdrawals the previous day. XRP ETFs declined by $7.62 million.
November outflows have been substantial, with Bitcoin ETFs experiencing total withdrawals of $1.58 billion, Ethereum at $551.10 million, and XRP at $18.57 million.
