On-chain analytics firm Santiment reported that investor sentiment towards Bitcoin has sharply deteriorated on major social platforms such as X, Reddit, and Telegram. They explained, "The ColdCard firmware vulnerability has shaken confidence in self-custody, significantly worsening market sentiment. While there have been larger market shocks in the past, such as the collapse of FTX and Mt. Gox, and COVID-19, this incident has heightened individual investors' anxiety because it raised questions about the security of cold wallets themselves, rather than just exchanges. Currently, positive opinions related to Bitcoin are tallied at 0.58 instances for every 1 negative opinion. This figure reflects stronger fear than during periods of heightened geopolitical tension earlier this year and during past major negative events."
