The “crypto and Bitcoin is dead” chatter has once again risen on social media platforms, but several indicators point to current momentum being part of a macro bottom.

According to blockchain research platform Santiment Intelligence, crypto is increasingly being paired with words like “dead, over and finished” on social platforms such as X, Reddit and Telegram, among others.

Part of the reason is that Bitcoin is now looking to retest the $63,350 level once again, with a break below this risking a retest of the $62,500 price. Delays in CLARITY Act proceedings have also hurt sentiment in the industry, with odds that it passes into law this year falling below 22%.