Bitcoin Bull Sentiment Crashes Amid Coldcard Scam Attack

A recent security breach involving a widely trusted hardware wallet, Coldcard, has shaken investor confidence in Bitcoin, causing bullish sentiment to plummet.

The attack, which targeted Bitcoin holders and resulted in a $70 million exploit, has raised concerns about the safety of self-custody options.

Data from Santiment reveals that every bullish comment about Bitcoin is met with up to 1.72 bearish comments, leaving the bullish-to-bearish ratio at just 0.58.

This level of negative sentiment exceeds even major geopolitical tensions earlier this year and some of crypto's biggest historical events.