Bitcoin Sentiment Turns Bearish as Santiment Ratio Drops to 0.51 Over US Election Result

Bitcoin's social sentiment has flipped sharply bearish in the run-up to the United States midterm elections, adding a fresh layer of uncertainty to crypto markets. Data from on-chain analytics platform Santiment shows negative commentary on Bitcoin has nearly doubled positive discussion over the past two weeks, while Google Trends figures point to a steep drop in public interest in Bitcoin and the wider cryptocurrency market. Because sentiment gauges of this kind track the tone of social conversation rather than price itself, the swing offers a snapshot of how retail crowds are responding as election and security headlines stack up.

Sentiment Ratio Falls From 1.8 to 0.51

According to Santiment, Bitcoin's positive-to-negative social sentiment ratio has slipped to 0.51, meaning negative comments now nearly double positive ones. Readings above 1 indicate bullish commentary outweighs bearish, while anything under 1 signals the opposite. That marks a sharp reversal from October 20, when the ratio stood at 1.8 and positive comments significantly outnumbered negative ones while Bitcoin traded above $85,000.

🚨 Crypto Sentiment Collapsing As Election Fear Hits Retail 😨 Bitcoin sentiment, along with the majority of altcoins' sentiment, has done a complete flip in just two weeks. On October 20th, there were roughly 1.8 bullish $BTC comments for every bearish one. Gradually, we've seen… pic.twitter.com/acI3vORaQ3

— Santiment Intelligence (@SantimentData) November 4, 2026

The deterioration accelerated on October 29, when the ratio plunged to 0.37 following the $6.3 billion security breach at Binance. Although it recovered slightly over the next few days, the gauge weakened again on November 4 as Democrats won control of both the House and the Senate in the midterm elections.

Bitcoin is currently trading around $78,123, down from the levels above $85,000 recorded on October 20, with Santiment now logging just 51 positive comments for every 100 negative ones.

Retail Activity Hits Multi-Year Low

The sentiment decline has coincided with a slide in retail activity on Binance to a multi-year low. Earlier, Coinpedia news reported that the exchange's 30-day average retail inflows have dropped to just 281 BTC. The metric tracks deposits below 1 BTC and measures how much capital smaller investors are sending to the platform. Since it only counts sub-1-BTC deposits, the figure screens out large transfers and serves as a narrow gauge of grassroots participation rather than activity from major holders.

Search interest data reinforces the trend. Google Trends scores are indexed from 0 to 100, with 100 representing peak interest for a given period. Over the past month, Bitcoin averaged a worldwide search score of 51, compared with 37 for the Cryptocurrency topic and 26 for the Crypto search term. Bitcoin searches briefly hit 100 around October 30 before falling back.

Taken together, the figures point to weaker retail participation and fading public attention as political uncertainty adds further pressure to the cryptocurrency market. For anyone following the retail side of the market, the Santiment ratio, Binance's sub-1-BTC inflow metric, and Google Trends scores now form a compact set of indicators to watch, with upcoming readings showing whether engagement stabilizes or continues to slide from the levels recorded in late October.