Santiment Says Bitcoin Above $79,000 Could Diverge From Bearish Mood

Bitcoin (BTC) social media mood has shifted sharply bearish over two weeks, while Santiment says a price above $79,000 would conflict with that sentiment if pessimism continues. The bullish-to-bearish comment ratio fell to about 0.51 from roughly 1.8 on Oct. 20. A reading below 1 means bearish comments outnumber bullish ones. Santiment said sentiment around Bitcoin and most altcoins had turned pessimistic. Santiment linked growing retail concern to uncertainty surrounding the U.S. midterm elections. It said extremely negative sentiment can precede a move in the opposite direction.