Analysts flagged mounting retail stress, unusual spikes in social chatter, and renewed warnings of a deeper market pullback as major cryptocurrencies continued to face heavy pressure.

Bitcoin fell to its lowest level since May on Sunday before recovering slightly, with sentiment across the digital asset market firmly anchored in “extreme fear.” The Crypto Fear & Greed Index remained at 10 for a second consecutive day, reflecting widespread anxiety among traders.

Bitcoin (BTC: $92,115.54) was last changing hands near $95,087 at 6:20 p.m. UTC, down 1% over the past 24 hours after briefly slipping under $94,000, its weakest reading since May 6, according to TradingView data.

Broader market weakness persisted across major tokens: ether (ETH) fell 3.23% to $3,113, XRP slid 2.1% to $2.21, BNB dipped 1.6% to $926.21, and solana (SOL) dropped 3.6% to $137.79.

Crypto analyst Ali Martinez noted on X that bitcoin has broken below a key price channel, opening the possibility of a decline toward $83,500. Meanwhile, analyst Benjamin Cowen highlighted the occurrence of a death cross—where the 50-day moving average falls below the 200-day—observing that similar events in the current cycle have often coincided with local bottoms. Cowen said bitcoin needs to rebound within a week to preserve the cycle structure, cautioning that failure could trigger another leg down before any move back toward the 200-day moving average. He urged traders to “trade the market you have, not the market you want.”

Adding to bearish sentiment, market strategist Charlie Bilello pointed out that gold has surged 55% year-to-date, making it 2025’s best-performing major asset, while bitcoin — up only about 1% — is the year’s worst performer. He described the divergence as the inverse of 2013 and noted that no previous calendar year had displayed such an extreme contrast.

Macro factors also weighed on sentiment. U.S. Treasury Secretary Scott Bessent said Sunday that President Donald Trump’s Nov. 10 proposal to distribute $2,000 tariff-funded “dividend” payments to U.S. citizens would require congressional approval. The initial announcement had buoyed markets, with traders pricing in the possibility of increased consumer spending and potential crypto inflows once funds reached households.

Still, some see signs that the market may be nearing exhaustion. Market intelligence firm Santiment reported that bitcoin discussion rates on social platforms surged to a four-month high during Friday’s dip below $95,000, reflecting heightened retail fear. The firm noted that such spikes in social dominance can sometimes precede market reversals, though they are not a guaranteed signal.

In a potential bright spot, MicroStrategy (MSTR) Executive Chairman Michael Saylor hinted at a new corporate bitcoin purchase, posting “Big Week” on X along with a screenshot from StrategyTracker, the real-time bitcoin treasury analytics platform. The anticipated announcement on Monday has introduced a pocket of optimism amid otherwise gloomy conditions.