As Bitcoin Fears Increase Near $68K: Santiment Sees Buy Signal
The price of Bitcoin hovered around $68,500, but showed a drop of $68,000 during the day. Analysts say the textbook buying signal is on. Bulls can target $75,000-$80,000 next.
Bitcoin continues to face headwinds amid the Iran conflict and continued tensions in the key macro outlook.
While the cryptocurrency has dropped to $68,000 amid a bearish stock market, analysts are pointing to the opposite sign as they predict a new leg for BTC.
Bellwether Digital's stock traded around $68,500 in premarket trading on Friday, giving modest gains to U.S. stock futures.
The rise in risk assets comes after President Donald Trump extended by ten days a deadline for possible strikes on Iran's energy infrastructure.
BTC will now push back towards $69,000, indicating the possibility of stabilization.
Santiment says BTC is flashing a textbook purchase signal.
Bitcoin's test of $68,000 coincides with the chain's analyst firm's highlight of the sentiment's rise in retail volatility.
However, analysts say this view is an antiquated indicator.
Social media chatter shows the public fueling fear, uncertainty and doubt (FUD) around Bitcoin and altcoins.
Why is this important?
According to Santiment, cryptocurrency values often defy public narratives.
The organization wrote, “The value of history goes against the narrative of the people.”
This means that the current bearish sentiment can be read as a strong buy signal.
The textbook view is the opposite, with bearish noise highlighting potential noise, while mass retail talk is often high.
Santiment says bright words like dump, recover, store or buy often refer to the possibility of selling.
Meanwhile, crowd noise, couched in words like dip, pullback, or bleed, often signals a buying opportunity.
🗣️ The retail crowd is showing signs of growing depressed as they turn to Bitcoin and crypto. Historically, prices move against the public narrative, indicating a stronger buy signal on the chart below. When you see crypto talk:
🔴 Words like… pic.twitter.com/rpgmtSz2Q2
— Santiment (@santimentfeed) March 27, 2026
Technical analysis of Bitcoin price
Over the past 24 hours, Bitcoin's price action has reflected broader market volatility.
The asset fell back to weekly support levels and turned the $72,000–$75,000 band into a fearsome supply zone, falling to a daily low of around $68,500.
Current price levels show a weekly decline of 4%, reflecting investor caution.
From a technical perspective, Bitcoin presents a bullish setup in the middle of the pullback.
The weekly RSI has dipped into oversold territory, suggesting bearish selling. The support at $68,000 is aligned with the 200-week EMA, the previous zone of accumulation and resistance.
The histogram of the MACD indicator is flat and shows a bullish cross.
Upside, a $70,000 test brings $72,000 into view.
Short-term, the $75,000 supply zone could hold back the bulls' movement – unless they breach the surge in bad news. Broader forecasts point to $80,000 as a target for bulls.
On the upside, the Bears might like $65,000. However, they face a strong base of support near the $60,000 mark.
