Jakarta, Pintu News – Bitcoin (BTC) market sentiment has weakened again despite the price still staying below US$70,000 or around Rp1,189,790,000 at an exchange rate of Rp16,997 per dollar. The latest data shows the ratio of bullish to bearish fell to 0.81, the lowest level since late February. This leaves the crypto and cryptocurrency markets in a phase of waiting for a new direction.
Santiment data shows Bitcoin’s bullish-bearish ratio has dropped to 0.81 to 1.00. This means that negative conversations are starting to dominate the crypto community. This drop comes after BTC has been moving sideways for quite some time.
This has weakened investor confidence. Bearish discussions increased on X, Reddit, and Telegram. Sentiments like this often appear before big moves.
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Bitcoin (BTC) is repeatedly trying to break US$70,000. The last price was around US$69,550 or around Rp1,182,891,000. This was the seventh attempt since February.
The failure of the breakout makes the market lose momentum. Traders began to hesitate to open new positions. This increases the psychological pressure on the cryptocurrency market.
Around US$6 billion worth of short positions could be liquidated if BTC hits US$72,500. If converted, this would be around Rp1,232,282,500 per BTC. This level is an important area for traders to monitor.
Short squeezes can trigger rapid spikes. The liquidation of short positions pushes the price higher. This pattern is common in volatile crypto markets.
In contrast, long positions of around US$2 billion are near US$65,000. This level is equivalent to about Rp1,104,805,000. If prices fall, liquidation of longs could accelerate the decline.
This structure puts the market at a sensitive point. Small movements can trigger huge volatility. Cryptocurrency traders closely monitor this zone.
Negative sentiment was also triggered by geopolitical conflicts and regulatory uncertainty. Issues such as the US-Iran conflict held back investor buying interest. In addition, the discussion of new crypto rules also added pressure.
But on-chain, Bitcoin is still above the realized price of US$54,279. If converted, this level is around IDR 922,567,263. This means that the market has not yet entered the full accumulation phase.
Negative sentiment doesn’t always mean the price will go down. Bitcoin (BTC) often moves against the majority of sentiment. High fear conditions can actually be an opportunity.
You need to monitor the US$72,500 and US$65,000 levels. These two zones determine the next direction. The crypto market is currently in a big decision phase.
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