Bitcoin Sentiment Hit a Weekly Low as Price Rebounded Above $82,000

Bitcoin (BTC) rebounded above $82,000 after briefly slipping below $80,000 on Oct. 15, as its positive-to-negative social sentiment ratio fell to a weekly low of 0.85.

A ratio below 1 means negative sentiment outweighed positive sentiment under the measure. It does not mean negative posts outnumbered positive ones.

For the week, the ratio averaged 0.97, down from 1.01 the previous week. It remained below 1 on five of seven days.

The price rebound and the sentiment low occurred on the same day, but those figures alone do not establish that a lasting market bottom formed. The episode adds a sentiment measure to earlier coverage of Bitcoin selling above $80,000 and local lows.