Bitcoin is currently experiencing an extended period of fear, uncertainty, and doubt (FUD) on social media, according to data from Santiment, a blockchain data analysis platform. Despite the cryptocurrency's price trading between $64,180 and $67,294 last week, the Weighted Sentiment Index, which measures Bitcoin mentions on social media, has remained negative since May 23.

The negative sentiment towards Bitcoin is evident across the crypto community, with investors and analysts expressing their concerns on social media. James Check, chief analyst at Glassnode, noted that the cryptocurrency has been experiencing a 150-day horizontal stagnation since the halving event in April. Another analyst, Jelle, described the current price movement as the most boring phase of the bull market, but suggested that prolonged consolidation could lead to a rapid price increase.

Despite the negative sentiment, some analysts believe that the longer the consolidation, the greater the subsequent expansion. Daan Crypto Trades, a popular analyst, explained to his followers that the prolonged consolidation could lead to a significant price increase. Meanwhile, the Fear and Greed Index, which considers social media sentiment, volatility, market momentum, and other factors, showed a Greed reading of 63, down 11 points from the previous week.

The prolonged FUD level on social media is rare, according to Santiment, as investors continue to surrender. However, historical data shows that positive events, such as the approval of Bitcoin ETF funds and the halving event, have caused the sentiment to shift to positive levels.

In conclusion, Bitcoin is facing an extended period of negative sentiment on social media, but some analysts believe that this could be a sign of a potential price increase. As the cryptocurrency market continues to evolve, it's essential to consider both positive and negative sentiments, as well as technical analysis, to make informed investment decisions.