Bitcoin sentiment turns cautious – Yet ONE signal hints at BTC’s local bottom

The Bitcoin [BTC] bullish structure AMBCrypto reported on recently was still in play, but the market sentiment could be shifting. In a post on X, crypto intelligence platform Alphractal observed that the market sentiment was no longer bullish.

The Sentiment Gauge score has fallen below 50 after the market-wide correction earlier this month. Earlier, Santiment data had shown that $1.03 billion in profits were realized by Bitcoin holders.

The 2nd-largest wave of profit-taking in 2026 contributed to the shifting sentiment, and there was evidence that demand was also weakening.

The shift in sentiment and weakened demand could make it difficult for Bitcoin to break above the $84k supply zone overhead. The liquidation heatmap showed the $83.6k-$85k area as a magnetic zone that can pull prices higher.

Without spot demand, a move into this liquidity cluster could become a short squeeze before Bitcoin continues to correct further and fall below $80k.

The key onchain support level Bitcoin bulls should monitor

The $80.5k represented the invested capital cost basis level. Bitcoin prices have oscillated around this level over the past six weeks. It was a pattern similar to the one exhibited in late 2025 and early 2026.