Extreme FUD lingers after Bitcoin’s $60,000 rebound, with bearish social sentiment outweighing bullish posts.

Bitcoin (BTC) slipped back below $67,000 on Wednesday, February 11, extending a volatile stretch that began with last week’s drop to $60,000.

Despite that rebound from the lows, social data shows fear remains elevated, with traders split over whether the worst of the sell-off is over.

Social Sentiment Stays Bearish as Volatility Spikes

Data shared by on-chain analytics firm Santiment shows a high ratio of bearish to bullish posts even after Bitcoin recovered from its $60,000 dip. According to the firm, retail traders seem hesitant to buy at current levels, while larger holders are facing less resistance in accumulating during periods of fear.

Santiment added that, historically, rebounds have often followed spikes in fear, though it did not claim this guarantees a bottom.

Meanwhile, short-term price action is still fragile, with market watcher Ash Crypto reporting that Bitcoin’s fall below $67,000 had liquidated roughly $127 million in long positions within four hours.

At the time of writing, market data from CoinGecko showed BTC trading around the $66,700 region, down about 3% in the last 24 hours and nearly 13% on the week. Over the past 30 days, the flagship cryptocurrency has fallen more than 27%, and it remains 47% below its October 2025 all-time high.

The 24-hour range between $66,600 and $69,900 is a reflection of ongoing intraday swings, while weekly price action has spanned from about $62,800 to $76,500, showing just how unstable conditions are.

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Volatility metrics support that view, with Binance data cited by Arab Chain analysts showing that Bitcoin’s seven-day annualized volatility has climbed to around 1.51, its highest reading since 2022. However, 30-day and 90-day measures remain lower at 0.81 and 0.56, suggesting recent turbulence has not yet evolved into a sustained high-volatility regime. According to the analysts, the average true range as a percentage sits near 0.075, which historically has been a compressed level that often comes right before a larger directional move.

Bear Market Comparisons Resurface

An earlier report this week noted that Bitcoin has closed three consecutive weeks below its 100-week moving average, a pattern seen in previous bear markets. CryptoQuant founder Ki Young Ju wrote on February 9 that “Bitcoin is not pumpable right now,” arguing that selling pressure is limiting upside follow-through.

Other commentators, including Doctor Profit, have described the current structure as a wide consolidation range between $57,000 and $87,000, warning that sideways trading could precede another leg lower.

Furthermore, macro data is adding to the cautious tone, with XWIN Research Japan writing that weaker U.S. retail sales and easing wage growth mean that consumption is slowing, which may weigh on risk assets in the short term. The firm also noted a persistently negative Coinbase Premium Gap since late 2025, suggesting there’s weak U.S. spot demand compared to derivatives-driven activity.

Yet not all industry voices are focused solely on price cycles, with WeFi’s Maksym Sakharov saying he believes Bitcoin sentiment will eventually strengthen despite falling prices, but for different reasons than in past rallies.

“I believe Bitcoin sentiment will turn even stronger despite the falling prices, but this time it won’t be only about price or speculation, but also about real adoption,” Sakharov said.

In the meantime, BTC is sitting in a narrow zone between fear-driven pessimism and technical support near $60,000, with traders watching whether high volatility resolves higher or breaks lower in the weeks ahead.