The “crypto winter” might feel like it’s thawing for prices, but on social media, the frost is still thickening. Recent data shows that viewership for crypto-related content on YouTube has plummeted to its lowest level since January 2021. This sharp retreat over the last three months suggests that while Bitcoin might be hovering near record highs, the average retail investor is no longer tuning in.
Benjamin Cowen, founder of ITC Crypto, recently highlighted a 30-day moving average of views that paints a grim picture for creators. This isn’t just a platform-specific issue or a tweak to the X (formerly Twitter) algorithm; it is a cross-platform collapse in engagement. For many, the current levels of social interest are reminiscent of the deepest troughs of previous bear markets, signaling a massive disconnect between price action and public enthusiasm.
Why the “Hype Train” has Left the Station
The decline in views reinforces a growing theory: this current market cycle is being driven by institutional giants rather than the “moon boy” retail crowd of years past. While ETFs and corporate treasuries are buying up Bitcoin, the everyday investor seems exhausted. Many creators point to a sense of “scam fatigue,” where retail participants have grown weary of pump-and-dump schemes and “Ponzi” altcoins that promised riches but delivered losses.
Industry experts observe that the narrative is shifting. Instead of chasing speculative “stories” about future returns, many former crypto enthusiasts have pivoted toward macro assets and precious metals. In 2025, Bitcoin saw a -7% return, while assets like gold, silver, and even industrial metals like cobalt outperformed it. This shift suggests that the “get rich quick” crowd may be looking for stability elsewhere, leaving crypto YouTube channels with a much smaller, more professional audience.
Finding the Silver Lining in Social Sentiment
Despite the ghost-town vibe on social media, the data isn’t entirely bleak. On-chain analytics platform Santiment suggests that social sentiment toward Bitcoin is actually starting to stabilize. While the volume of conversation is lower, the tone is becoming more positive as the market looks for a solid floor. The $90,000 price level remains a psychological line in the sand; staying above it is considered crucial for keeping the remaining retail investors from checking out completely.
Interestingly, while Bitcoin finds its footing, Ethereum remains in a state of limbo. Social sentiment for the second-largest cryptocurrency is currently “scattered,” failing to show any consistent trend. For creators and investors alike, the message is clear: the market has matured. The era of viral, hype-driven growth may be over, replaced by a more sober, institutional-led environment where substance finally matters more than clicks.
