Bitcoin sentiment hit peak bearishness at recent lows, peak bullishness near tops

Crypto Daybook AmericasShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBitcoin sentiment hit peak bearishness at recent lows, peak bullishness near topsYour day-ahead look for June 5, 2026By Shaurya Malwa|Edited by Sheldon Reback Jun 5, 2026, 11:25 a.m. 3 min readMake preferred on What to know: This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.In recent weeks, bitcoin BTC$61,968.17 sentiment has been most bullish when the price was highest and most bearish exactly when it was most stressed, according to Santiment data covering May 21 through June 4. Peak bullishness hit on May 22, with bitcoin near its high of $78,000 for the period. The most bearish came June 3, with bitcoin near the low. While sentiment is not a timing tool, peak conviction at the highs and peak fear at the lows is the inverse of where the trade usually pays.Bitcoin was recently trading near $62,400, down about 20% from the late-May peak. The risk picture has cracked alongside it. The investments into artificial intelligence (AI) companies that pulled global equities to record highs this year has stalled after Broadcom's chip forecast fell short of expectations. South Korea's KOSPI index fell 4.7%, and the won and Indonesia's rupiah are at multiyear lows as capital flees emerging Asia.U.S. spot bitcoin ETFs ended a 13-day, $4.4 billion outflow streak on Thursday with a tiny $3.05 million inflow. Spot ether ETFs ended their parallel 17-session streak with $19.30 million on the same day. Both numbers are too small relative to the streaks they ended to call it a regime change.Friday's U.S. nonfarm payrolls report at 8:30 a.m. ET is the binary catalyst. A soft print revives Federal Reserve interest-rate cut expectations under new Chair Kevin Warsh and likely takes risk assets back up, while a hot print may extend the unwind. And keep an eye on how bitcoin behaves at the $60,000 round number if it gets tested before the data lands. Stay…

Bitcoin sentiment hit peak bearishness at recent lows, peak bullishness near tops

Coins in this story

Related stories

Crypto's worst week since July 2024 deepens as bitcoin, ether near critical price levels

U.S. job growth blows past forecasts, setting stage for Fed rate hikes

Arthur Hayes dumps zcash holdings after Orchard Pool vulnerability revealed