Bitcoin showed strong signs in the first month of 2026, but now that seems to be just New Year’s optimism that has disappeared in a moment in time.
Since February 1, BTC has fallen below the $80,000 mark, and with the onset of tensions between the US and Iran, the price has left the bulls behind. Although Bitcoin was stronger than gold, silver and the S&P 500, it still failed to offset cautious market sentiment.
Bitcoin’s social chatter is raising eyebrows
According to a recent analysis by Santiment, Bitcoin [BTC] saw its “highest percentage of bearish discussions (fear)” since February 28 on X, Reddit, Telegram and other similar platforms.
At the time of writing, BTC was trading near $69,090.
This sentiment was further confirmed by the Crypto Fear and Greed Index, which was in the ‘Extreme Fear’ zone at the time of reporting. In fact, the index has only fluctuated between the ‘Fear’ and ‘Extreme Fear’ zones since mid-January.
Michael Saylor’s buying spree continues
However, not everyone believes in this sentiment.
Michael Saylor, who has always followed a buy-the-dip strategy, hints at a new purchase. This has even dispelled the ongoing chatter from last weekend, when Saylor didn’t come up with his usual “Orange Dot” tease on X.
According to the new tease, Saylor hints that Strategy is “Back at Work” and that 104 purchases have already been made and that the next buying wave will mark Strategy’s 105th purchase.
With such aggressive Bitcoin buying moves, Strategy now owns 762,099 BTC worth $52.59 billion. Since February 28, Strategy has made four purchases for a total of 44377 BTC.
However, despite such moves, MSTR’s share price stood at $119.83 at the time of writing, having fallen 2.4%, down from $2.95 per share.
How will upcoming events shape Bitcoin?
That said, as sellers cloud buyers around the largest cryptocurrency, several upcoming events could change things forever. In fact, Santiment believes that markets typically move in “the opposite direction of public expectations.”
So with the ongoing debate surrounding the CLARITY Act, increasing geopolitical unrest, and “a high level of FUD,” there is a good chance that “things could turn positive sooner or later.”
Needless to say, this begs a question: will this impact Saylor’s shopping spree?
Interestingly enough, the answer is simple, because Saylor was never concerned about the short-term noise.
So if things go well for the crypto market, it will be good for Strategy, but if not, Saylor will keep buying as always.
This is because ABMCrypto recently reported Saylor’s latest bullish statement, where he put it best when he said:
Bitcoin has won.
Final summary
- Despite Bitcoin outperforming traditional assets, sentiment around Bitcoin has turned bearish since the US attacked Iran.
- Michael Saylor’s confidence in Bitcoin reflects his longstanding belief in the leading cryptocurrency.