Bitcoin sentiment hits 2.23 peak as ETF outflows cross $2.97B

• Bullish comments on Bitcoin have surged to a 2.23-to-1 ratio over bearish ones—strongest level in 2026, per Santiment.
• Spot Bitcoin ETFs have lost $2.97 billion since May 15 despite this surge in social optimism.

Social media optimism for Bitcoin surged to unprecedented levels on June 1, 2026, reaching 2.23 positive mentions for every bearish comment, according to Santiment data reported by Cointelegraph. This lopsided ratio marks the most bullish reading of the year, highlighting a dramatic swing in trader sentiment even as spot Bitcoin ETFs registered over $2.97 billion in net outflows since May 15.

Historically, extreme optimism in sentiment metrics has signaled increased risk of short-term pullbacks for Bitcoin prices. Analysts pointed to this disconnect between rising social media euphoria and sustained ETF withdrawals, suggesting it could foreshadow a potential market correction. Santiment has previously noted that high sentiment ratios often act as contrarian indicators, particularly when the Crypto Fear & Greed Index shows elevated anxiety among crypto investors.

As of June 1, 2026, 06:09 UTC, Bitcoin (BTC) was trading at $73,194.70, down 0.94% in 24-hour volume, according to CoinMarketCap.