Crypto market sentiment is no longer bullish, with the Sentiment Gauge score falling below 50 following the market-wide correction earlier this month. Bitcoin holders realized $1.03 billion in profits, the second-largest profit-taking wave in 2026, indicating weakening demand. The $80,500 level represents the invested capital cost basis and stands as a key support level to monitor. When Bitcoin’s long/short ratio crosses above that of altcoins, Bitcoin’s price decline tends to pause temporarily, suggesting a local bottom may be in place. A convincing move back above $85,000 with steady onchain demand and ETF flows would be needed to shift market sentiment bullishly once more.
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