The sentiment index in the Bitcoin futures market has cooled to 36%, well below the neutral 50% mark. This comes after a brief spike to 70% between August 11–14, when Bitcoin surged to $123K. Currently trading near $115K, market momentum shows sellers dominating in the short term, with neutral open interest suggesting a shift from euphoria to range trading. Analysts warn that as long as sentiment stays under 45–50%, rallies may face selling pressure, raising the risk of testing $112K. All eyes are now on Fed Chair Jerome Powell’s speech for the next market trigger.