According to BlockBeats, CryptoQuant analyst Axel reported on social media that the Bitcoin Advanced Sentiment Index has dropped to approximately 46%, slightly below the neutral threshold of 50%. Earlier in June, market bullish sentiment surged above 80%, but the index has since declined. Despite a recent price rebound from $103,000 to $105,000, open interest and net buying volume have not provided effective support, with the volume difference remaining near zero.
Currently, Bitcoin's price is fluctuating between $103,000 and $105,000, with no significant signs of new buying interest. For the upward trend to continue, the index needs to rise back to the 60-65% range, which requires simultaneous growth in net active buying volume and open interest. Otherwise, the market may test the support level in the $102,000 to $103,000 range.
