Latest data shows that the market sentiment for Bitcoin has noticeably cooled down, with the Advanced Sentiment Index dropping to about 46%, below the neutral level line of 50%. Analyst Axel Adler Jr.'s data tracking indicates that this metric had climbed to over 80% in early June, after which it began to show a continuous downward trend.

It is worth noting that although the price of Bitcoin has recently seen a slight increase, climbing from around $103,000 to approximately $105,000, the market's fundamental data does not support this price performance. Currently, the positions and net buying volume are weak, with almost zero increase in trading volume, indicating a lack of new capital inflow to support the current price level.

Currently, the price of Bitcoin is hovering around $105,000, but there is no significant buying power entering the market. Technical analysis indicates that to restore a robust upward trend, the sentiment index needs to rebound to the range of 60%-65% or higher, and this process requires a simultaneous increase in net buying volume and open interest. If these key indicators do not improve, the market is likely to retreat and test the support area of $102,000 to $103,000.