Analysis “BTC, Even with rebound, investment sentiment weakens…possibility of retesting $10.2k~$10.3k”

Despite Bitcoin's recent success in a short-term rebound, analysts suggest internal market indicators still indicate a bearish trend. On-chain data platform CryptoQuant analyst Axel Adler Jr. stated on the 14th that the “Bitcoin Advanced Sentiment Index has fallen to 46%, below the neutral line, showing investor sentiment has distinctly weakened compared to the over 80% level in early June.”

He said, “BTC rebounded from 103,000 dollars to 105,000 dollars, but during the same period, Open Interest and Net Buying Volume did not increase,” analyzing that this may mean the current rebound could be short-term and new buying force is not entering the market.

Adler further emphasized, “For Bitcoin to continue an upward trend again, the Advanced Sentiment Index needs to recover to at least 60-65%, and simultaneously, increases in Open Interest and Net Buying Volume must be observed.”

If these conditions are not met, Bitcoin is at a high possibility of retesting the support line of 102,000 to 103,000 dollars.

The current market is facing difficulties seeking direction as geopolitical risks, interest rate uncertainties, and trading volume stagnation overlap, and despite technical rebounds, it is evaluated that conditions for a confident upward conversion are not yet sufficient.