Retail traders are showing signs of doubt about Bitcoin’s short-term future, with sentiment dropping to levels not seen since April, according to new data from crypto analytics firm Santiment. The company’s marketing director, Brian Quinlivan, revealed on Thursday that social media sentiment has shifted sharply, reflecting growing impatience and uncertainty among small investors. “Crypto is in a bit of a lull, and traders are showing signs of impatience and bearish sentiment,” Quinlivan said. He added that Santiment’s social analysis found just 1.03 bullish comments for every 1 bearish one — the lowest ratio since April 6, when Donald Trump’s global tariff announcement triggered a wave of market fear. Interestingly, Quinlivan suggested this bearish mood may actually be a bullish indicator, as markets often move in the opposite direction of retail expectations. Santiment tracks these trends using its Sanbase platform, which monitors discussions across platforms like Reddit, Telegram, Discord, and X (formerly Twitter) to gauge overall trader sentiment. Market Mood Cools from “Greed” to “Neutral” Echoing the growing caution in the market, the widely followed Crypto Fear & Greed Index has also declined. As of Friday, the index dropped to a “Neutral” reading of 54, down from a “Greed” score of 61 recorded between June 9 and 15. The previous month had seen even stronger confidence with an average index value of 70, firmly in the “Greed” zone. The Fear & Greed Index compiles data from various sources such as Google Trends, market momentum, dominance, volatility, and social sentiment to evaluate the emotional state of investors. The recent dip suggests traders are pulling back and reassessing their positions. Smart Money Buys as Retail Sells While retail sentiment appears shaky, large Bitcoin holders — often referred to as whales — seem to be taking the opposite approach. Quinlivan noted that in the last ten days, 231 new wallets holding at least 10 BTC have emerged. In contrast, more than 37,000 wallets holding less than 10 BTC have reduced or exited their positions. “When large wallets accumulate as retail loses confidence, this is historically the right combination for bullish momentum to inevitably return to crypto markets,” Quinlivan explained. Bitcoin is currently trading around $104,600, showing a modest 3% gain over the past two weeks, according to CoinGecko. A similar trend is playing out with Ethereum, where major holders are buying ETH while smaller investors sell. The post Retail Sentiment Turns Bearish as Bitcoin Whale Wallets Accumulate appeared first on TheCoinrise.com .