Does blood sugar affect hormones?

Sure does! Particularly your hunger hormones: ghrelin and leptin. Ghrelin is our “hunger hormone”, in which sends signal to our brain to let it know it is time to eat for our body needs more energy, where as leptin is what regulates energy balance, sending our brain the opposite signal, letting know its full. A constant fluctuation in blood sugar, particularly if it spikes too high and drops dramatically can lead to a a confusing signaling pattern which in turn can cause the brain to think we are starving, when in reality, it’s just imbalanced blood glucose, causing us to run out of energy quickly and not feel satiated or stable.
Opposite of insulin is Growth Hormone (GH) which allows us to, as it states, grow, from muscle growth, repair, as well as bone density increase. Its’ primary mechanism is to tell the liver to produce Insulin-Like Growth Factor-1 (IGF-1), which acts similarly to insulin, yet binds to insulin receptors. IGF-1 helps stimulate growth as well and keeps inflammation low. Yet, if insulin is high, these two markers are not doing their job protecting the body, which in turn, can lead to loss of muscle mass, and density, and an increase in fat, since extra glucose in the blood can be stored as triglycerides.
Another thing is that high insulin levels can be taxing on the body and when dropped cause added stress, which in turn can spike cortisol levels. As mentioned in my previous posts, high cortisol levels, or chronic spikes in cortisol, can create hormonal imbalances and create a cascade of problems. In many cases, insulin and PCOS have been linked, as some evidence suggests that insulin resistance is a result of inflammation that can translate into PCOS. This is due to lipotoxicity, a condition of dysfunctional fat cells secrete inflammatory molecules that, in essence, create insulin resistance.