Santiment describes the growing “crypto is dead” chatter as fear language. Such phrases often appear when prices move sideways and traders lose patience with the market.
“This is fear language,” Santiment said. “It usually appears when retail patience is breaking, prices feel stuck, and traders start treating temporary weakness like permanent failure.”
has traded between $60,000 and $66,000 since June. Its range has narrowed further to roughly $62,000–$65,000 since July, reducing short-term trading opportunities.
Bitcoin also trades nearly 30% below its price at the start of 2026. Moreover, it has fallen about 50% from its October 2025 record of $126,200.
Trading activity has declined alongside the price weakness. The number of bitcoins changing hands has fallen to its lowest level since 2019, according to the supplied market data.
Meanwhile, US spot Bitcoin exchange-traded funds recorded more than $4.5 billion in net outflows during June. Their combined outflows for 2026 have exceeded $4.7 billion, despite inflows during several months.