Bitcoin Sentiment Shifts as Price Volatility Persists
Recent analysis from crypto sentiment firm Santiment indicates a cooling of extreme optimism surrounding Bitcoin, a development the company views as a potentially healthy sign for the market. The shift comes amid continued price volatility, with Bitcoin currently trading around $67,847 after dipping to near $60,000 in February 1.
Decline in Price Predictions
Santiment reports that calls for Bitcoin to reach $150,000 to $200,000, and even more modest predictions of $50,000 to $100,000, are becoming less frequent. This reduction in “fear of missing out” (FOMO) and associated hype is interpreted as a positive indicator, suggesting that retail investor exuberance is waning 1.
Sentiment Returns to Neutral
While prominent figures like BitMEX co-founder Arthur Hayes and BitMine chair Tom Lee previously predicted Bitcoin could reach $250,000 in 2025, the cryptocurrency’s price peaked at $126,100 in October before experiencing a downturn 1. Santiment notes that Bitcoin sentiment, measured by the ratio of bullish to bearish social media comments, has moved from “extreme bearishness” to “neutral territory.” This neutrality, however, may build it more challenging for traders to make informed decisions 1.
Fear and Greed Index Remains Low
Despite the shift towards neutral sentiment, the Crypto Fear & Greed Index remains in “Extreme Fear” territory, registering a reading of 8 as of February 22, 2026, indicating continued investor caution 1.
On-Chain Activity Raises Concerns
Santiment also highlights concerning trends in Bitcoin’s on-chain activity. Transaction volumes, the number of active addresses, and overall network growth are all steadily declining. This suggests reduced usage of the network, with traders adopting a “wait-and-see” approach 1.
Santiment’s Data and Analytics
Santiment provides crypto research, data, and tools for analyzing markets and identifying data-driven opportunities 2. The platform offers on-chain, social, and development data, along with datasets, screeners, and alerts to aid investors and traders 2.
Recent Warnings About Bottom Calls
Recent analysis from November 26, 2025, cautioned against premature “market bottom” calls, noting that true market lows typically form when the majority anticipates further price declines 3, 4. Bitcoin was trading at $87,700 at that time, with the global crypto market cap increasing by 0.3% to $3.02 trillion 3.
The information provided is as of February 22, 2026, and reflects the latest analysis from Santiment and available market data.