CryptoQuant analyst Axel reported on social media that Bitcoin’s Advanced Sentiment Index has fallen to roughly 46%, slightly below the neutral threshold of 50%. After hitting a peak above 80% in June, this sentiment index has declined. Despite a recent price rebound from $103,000 to $105,000, open interest and net buying volume have yet to offer substantial support, with their difference remaining near zero. Current trading ranges between $103,000 and $105,000 show no significant signs of renewed buying interest. For the upward trend to continue, the sentiment index needs to rise back to the 60-65% range, requiring both an increase in net active buying volume and open interest at the same time. If this doesn’t happen, the market may face a test of support around $102,000 to $103,000. #BTC