Social media optimism on bitcoin has jumped to its highest level so far in 2026, even as the cryptocurrency trades sideways near $70,000, Cointelegraph reported on May 31. Santiment said bullish comments outnumbered bearish ones by 2.23 to 1, the most one-sided positive ratio this year. It said similar spikes earlier in 2026 were followed by short-term pullbacks, while extreme pessimism aligned with local bottoms. Spot bitcoin ETFs logged a 10th straight session of net outflows on May 30.

Optimism on bitcoin is rising quickly as the United States moves to advance the digital asset market clarity bill known as the Clarity bill, but warnings have emerged that crowd sentiment may be overheating. Santiment said markets generally move against public expectations, citing a post-vote surge in bullish social media reactions. Others said the bill could be a catalyst, while officials noted the legislative process is not finished and support is still needed.