BlockBeats news, on June 14, CryptoQuant analyst Axel posted on social media that, according to the Bitcoin Senior Sentiment Index, the current reading has dropped to about 46%, slightly below the neutral threshold of 50%. The chart shows that although bullish sentiment in the market soared to over 80% at the beginning of June, the index has continued to decline since then—even though the recent price has slightly rebounded from $103,000 to $105,000, both the open interest and net buying volume have not formed effective support, and the volume difference remains close to zero.

Currently, the price remains in the range of $103,000-$105,000 but there are no obvious signs of new buying entering the market. To sustain the upward trend, the index needs to rise back to the range of 60-65%, which requires a synchronous increase in net active buying volume and open interest. Otherwise, the market may test the support level in the range of $102,000-$103,000.