Bitcoin’s Shaky Comeback: Will It Break $108K or Crash Again?
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Bitcoin rebounds to $105K after 4% drop on June 13. Sentiment Index drops below 50%, showing a bearish trader mood. Resistance near $108K; support at $104.7K must hold firm. Bitcoin has climbed back above $105,000 at press time, but a deeper look at on-chain data suggests the recovery is fragile and lacks strong conviction from buyers. Bitcoin had gained around 1% after the sharp drop on June 13th, when it fell by 4%, slipping below $104,000 as rising tensions in the Middle East caused panic across the crypto market and wiped out billions of dollars in value. While this small price recovery is a relief for investors, experts warn that the market still looks shaky. A CryptoQuant analyst has observed that the Bitcoin Advanced Sentiment Index, a tool that tracks market mood, has dropped to around 46%. This is below the neutral 50% mark, meaning traders are leaning slightly bearish. Bitcoin Stuck in a Range? The index had peaked above 80% in early June when the market was much more positive. But even though Bitcoin’s price bounced from $103K to $105K, trading activity hasn’t picked up enough to fully support the move. Related: Anthony Pompliano… The post Bitcoin’s Shaky Comeback: Will It Break $108K or Crash Again? appeared first on Coin Edition .
Source: Coin Edition
