Bitcoin’s bullish sentiment has dropped to its lowest level ever recorded by analytics firm Santiment, following a $70 million exploit targeting Coldcard hardware wallet users. Santiment’s data shows that each bullish comment about Bitcoin is now accompanied by up to 1.72 bearish comments, with the bullish-to-bearish ratio falling to just 0.58. Unlike previous sentiment drawdowns caused by exchange failures or market crashes, this decline is driven by concerns over self-custody security after a widely trusted hardware wallet was compromised. The fear sparked by this attack exceeds the social panic recorded during major geopolitical tensions this year and some of crypto’s biggest historical events.
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