Crypto could be in for an “unexpected November rally” as recent indicators suggest traders are growing increasingly fearful—a sentiment that often shifts funds from weaker hands to long-term accumulators.
On social media, Bitcoin comments are evenly split between bullish and bearish, while Ether has slightly more than 50% more bullish than bearish mentions. Both, however, are below usual levels, according to Santiment’s post on X on Wednesday.
XRP, meanwhile, is seeing less than half of social media commentary as bullish, marking one of the most fearful moments of 2025 for the token.
A potential sell-off could actually benefit the market. Crypto sentiment remains cautious as the broader market struggles, influenced by various macroeconomic factors. Analysts note traders are increasingly turning to assets with clearer exposure to economic policies and credit flows, especially as the US government shutdown nears its end.
The Crypto Fear & Greed Index, which tracks overall market sentiment, scored just 15 out of 100 on Thursday, indicating extreme fear—its lowest reading since March.
Joe Consorti, head of Bitcoin growth at trading and liquidity protocol Horizon, noted that trader sentiment is comparable to levels seen in 2022, when Bitcoin was around $18,000, citing data from Glassnode.
Santiment noted that traders’ growing pessimism could actually be “good news for the patient,” potentially triggering an “unexpected November rally,” as more diamond-handed investors are ready to buy from those selling under pressure.
Santiment stated, “When sentiment turns negative on assets—particularly the top crypto market caps—it signals that we may be approaching a point of capitulation.”
“Once retail sells off, key stakeholders scoop up the dropped coins and pump prices. It’s not a matter of if, but when this will next happen.”
Samson Mow, founder of Bitcoin infrastructure company Jan3, who suggested last week that the Bitcoin bull run is still ahead, echoed a similar view on Tuesday. He noted that “newish buyers” are the ones selling, while long-term holders are taking the opportunity to stack more crypto into their wallets.
According to Mow, the current selling pressure comes primarily from those who purchased Bitcoin in the past 12 to 18 months and are cashing out amid fears that the cycle has peaked.
“These aren’t Bitcoin buyers from first principles, but speculators who follow the news,” he explained.
“This cohort of sellers is also depleted, and HODLers with conviction have now taken their coins, which is always the best case scenario. 2026 is going to be a great year. Plan accordingly.”
