Bitcoin Stubbornly Stands Firm-Sentiment Hits Dreadful Low Since Iran War!

Markets

What to know:

Bitcoin is currently trading around $67,100, showing little change over the weekend. However, investor sentiment has dropped to its lowest point since tensions began rising in February.

According to data released by Santiment on Saturday, online conversations about Bitcoin are currently more negative than positive. There are five posts expressing bearish (negative) views for every four bullish (positive) ones – the most negative trend we’ve seen in five weeks. The last time sentiment was this skewed was when Operation Epic Fury began and Bitcoin’s price first fell below $65,000.

The Fear and Greed Index is currently at 9, indicating extreme fear in the market. It’s been stuck between 8 and 14 for over a month, which is unusual because we haven’t seen a major price drop to match this level of fear. In the past, similar readings – during events like the LUNA and FTX collapses – were followed by significant price drops of 20-30% in a single day. However, this time, Bitcoin’s price is staying relatively stable, fluctuating between $65,000 and $73,000, even though investor sentiment is very negative.

The key takeaway is that how people *feel* about Bitcoin doesn’t match its price movement. For five weeks, Bitcoin has remained relatively stable – still trading around the same price it was at the start of recent global conflicts – despite a lot of negative news, including war headlines, political speeches, significant sell-offs, and weak demand. Essentially, the price hasn’t moved much even though overall sentiment towards Bitcoin has become increasingly negative.

The price hasn’t fallen further because of strong buying from institutions. In March, exchange-traded funds (ETFs) purchased around 50,000 Bitcoin, the most in seven months. Additional purchases by strategic investors added another 44,000 BTC. Recently, Morgan Stanley was authorized to offer a bitcoin ETF with low fees, potentially reaching 16,000 financial advisors and managing over $6.2 trillion in assets. This clear demand from institutions is supporting the price and preventing a further decline.

Looking at the data, it’s clear that the current price support is fragile. Our analysis shows overall Bitcoin demand over the past 30 days is actually negative – around 63,000 BTC – meaning sellers are outpacing buyers. What’s particularly concerning is the behavior of larger holders – those with 1,000 to 10,000 BTC. A year ago, they were accumulating Bitcoin, adding around 200,000 BTC. Now, they’re actively selling, offloading about 188,000 BTC. This represents one of the fastest distribution patterns we’ve ever seen, and suggests significant downward pressure.

Historically, April has been a good month for Bitcoin, showing gains in 10 out of the last 15 years with an average increase of about 21%. However, these typical seasonal trends may not hold up now, given the current challenges like the war, a decline in Coinbase Premium, large Bitcoin holders selling off their holdings, and very low investor confidence.

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2026-04-05 15:09