The market currently remains at the border of bearish mode: integral index = 43% (below the 45% threshold), meaning pressure still predominates, but there's no extremum - we're close to the neutral zone. The $111K price is trading at a discount to Fair Value of $115K by 3%. No green segments (sustained bullish regimes) are visible - red segments predominate, but the amplitude of the integral index is smaller than recent lows, meaning sellers are no longer at peak strength.

Bottom line: the balance is shifted toward bearish, but softly. We're at a threshold where several hours of coordinated improvement in derivatives flows could return neutral/slightly bullish mode; without it, the market remains in a scenario of technical bounces toward $115K rather than a reversal.