On the other hand, the Bitcoin Unified Sentiment Index (based on CoinGecko votes and the Fear & Greed Index) also turned positive. This usually means there is confidence in Bitcoin’s short-term prospects.
Puckrin noted:
“The continued uncertainty, which has dominated markets all year, may be the reason we are not seeing more euphoria in the cryptocurrency space. Bitcoin is indeed showing a potential double top pattern, a bearish signal, and daily exchange volumes have fallen off a cliff,”
Despite this caution, upside is possible, with improving structural and sentiment indicators as a sign.
Outbreak on the way?
Binance data also shows similar optimism.
Source: Cryptoquant
Financing rates for Bitcoin perpetuals have remained positive since the 22nd, a trend that often precedes short-term rallies.
Negative funding phases usually mean local bottoms, while a return to positive levels indicates bullish momentum.
Source: Cryptoquant
Added to this is the BTC-to-stablecoin reserve ratio on Binance has flashed the third buy signal of the cycle.
The same pattern occurred in January and March 2023, and again in March 2025, each time followed by big rallies to $24,800, $73,000 and $123,500.
Rising capital inflows and shrinking supply are increasing optimism in the Bitcoin markets.
What to pay attention to
Bitcoin held steady around $113,000, consolidating after recent gains.
$107,500 is a crucial support level. If BTC maintains this level over the next 24 to 48 hours, a move towards $116,000 could follow. This is consistent with improving Binance Funding Rates and a bullish stablecoin reserve ratio.
Source: TradingView
With the RSI near neutral and volume profile support below current prices, Bitcoin’s structure indicates the market is primed for further upside potential.