Bitcoin has been experiencing unusual levels of fear, uncertainty, and doubt on social media platform X, according to data from cryptocurrency intelligence provider Santiment. This unusual level of negative sentiment comes as the cryptocurrency's price remains steady at around $65,000. Bitcoin has experienced a 3.57% decline in value over the past seven days.

Santiment's Bitcoin social sentiment indicator has highlighted a prolonged period of fear and doubt among traders, with the weighted sentiment index remaining negative since May 23. The crowd remains fearful or disinterested toward Bitcoin, with prices ranging between $65,000 to $66,000. Historically, positive events for Bitcoin have led to positive sentiment, but the current sentiment remains negative.

Some analysts believe the extended consolidation phase could lead to a significant price surge, as historically, longer consolidations have led to larger expansions. The Fear and Greed Index has also shown a Greed reading of 63, down 11 points over the past seven days. Despite the current negative sentiment, market analysts suggest that the prolonged consolidation phase could signal a potential upside rally in the near future.

The crypto community remains divided, with some seeing the current consolidation as a precursor to a substantial market expansion. Bitcoin's price fluctuations over the past week, reaching highs of $67,294 and lows of $64,180, have contributed to the uncertainty. As Bitcoin continues to trade sideways, traders and analysts await a potential breakout.

The current sentiment might lead to a substantial rally, and if historical trends hold, the current sentiment could lead to a larger expansion. The interaction between fear, disinterest, and strategic accumulation will likely determine Bitcoin's next major move. Traders and investors must remain vigilant and consider historical patterns as they navigate the current market conditions.