Bitcoin sentiment gauge drops below 50 as one signal points to a local bottom
- —Alphractal's Sentiment Gauge fell below 50 after the market-wide correction
- —BTC holders realized $1.03 billion in profits, the second-largest wave of 2026
- —Bitcoin's long/short ratio crossed above the altcoin ratio on 8 October
- —Key support sits at $80.5k, with resistance in the $83.6k-$85k zone
Why it matters: Holding $80.5k keeps the local-bottom scenario alive, but a sustained spot demand recovery and a break above $85k are needed to turn sentiment bullish.
Source: AMBCrypto