Bearish Saylor Sentiment Signals Potential Bitcoin Bottom: Report

Strategy’s shares are down about 65% since July, fueling memes and fear around leverage and forced selling.

Bitcoin (BTC) traders are becoming increasingly vocal in their criticism of Michael Saylor and Strategy as the flagship cryptocurrency struggles to regain momentum in late December 2025, with social media filled with fear surrounding debt, debt and foreclosures.

However, analytics firm Santiment says the wave of pessimism could be a contrarian signal. According to the report, extreme negativity toward leading Bitcoin holders has often appeared near local market lows, indicating that selling pressure is nearing exhaustion rather than just beginning.

Growing Hostility Toward Saylor As Bitcoin Stalls

In a Christmas Eve post, Santiment noted that the discussions surrounding Strategy and Saylor flared sharply in mid-November, when Bitcoin failed to regain upward traction. The company stated that a major trigger for the reaction was the sharp decline in Strategy’s stock price, which fell from about $456 in July to about $160 in December, a drop of about 65%.

Santiment wrote that the drop was “accompanied by quite a bit of hostility, desperation and of course memes,” reflecting growing frustration among retailers. Much of the concern centers on Strategy’s aggressive lending to buy Bitcoin, a plan that worked well during strong markets but appears risky during recessions.

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Santiment also pointed out that another source of fear is Strategy’s identity shift under Saylor, with many traders viewing it less as a software company and more as a Bitcoin proxy. The market intelligence platform noted that social posts often veer toward worst-case scenarios, including forced BTC sales or shareholder dilution, even if such outcomes are not automatic.

Furthermore, data from Polymarket showed that less than three weeks ago, 61% of traders were betting that Strategy could be removed from the MSCI index by March 31 next year, further adding to the gloomy mood.

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It is the hostility that Santiment believes can be a signal.

“Heavy bearishness towards Strategy and Michael Saylor may be a stealth bottom signal as it shows emotions have reached extreme levels of FUD,” the firm noted.

It added that when fear becomes one-sided, it means many weaker hands have already sold, leaving fewer sellers.

This view comes at a time when other data points show strategy shifting to a more defensive stance. A CryptoQuant report from earlier this month said the company has delayed Bitcoin purchases until 2025 and built up a dollar cash cushion to cover dividends and interest for at least a year.

While Strategy still holds over 670,000 BTC, recent revelations confirm that it now allows the sale of Bitcoin or the use of derivatives as part of risk management.

Santiment added that when sentiment toward figures like Saylor is deeply negative, even modest positive developments can quickly change narratives. And while fear alone does not guarantee recovery, history suggests that when social talk turns relentlessly hostile, downside risk may already be priced in.