- Bitcoin Bull Score Index rose sharply, indicating a market phase shift.
- Surged from 20 to 50, moving from bearish to neutral.
- No major institutional shifts, but strong whale accumulation observed.
The Bitcoin Bull Score Index, reported by CryptoQuant, surged from 20 to 50 within four days, signaling a shift from bearish to neutral territory in the cryptocurrency market.
This shift suggests Bitcoin’s bear phase has ended, influencing market sentiment and stability amid complex macroeconomic conditions, without major immediate financial or institutional impacts.
Bitcoin Bull Score Index Shift
The Bitcoin Bull Score Index, compiled by CryptoQuant, surged from 20 to 50 over four days, indicating a transition from bearish to neutral conditions. Julio Moreno from CryptoQuant highlighted this change on X (Twitter), grabbing the crypto community’s attention.
The increase suggests Bitcoin is no longer in a bear phase, reflecting changes in market dynamics. Moreno, Head of Research at CryptoQuant, clarified that on-chain metrics need to exceed 60 for a sustained bull market. As Julio Moreno stated:
“The #Bitcoin Bull Score Index jumped from 20 to 50 in just four days. On-chain metrics signal we are out of the bear phase or, at least, back into neutral conditions.”
This index shift has not directly influenced major institutions, although whale accumulation remains high. Over 19,130 whale addresses are strategically positioning, bolstered by a steady Bitcoin price above $110,000.
No major financial or political shifts have been explicitly attributed to the Bull Score Index changes. However, the Federal Reserve’s recent rate cuts have contributed to an environment of heightened market volatility.
Historically, a September decline for Bitcoin has been common, but the pattern has been disrupted this year. Financial implications may include temporary investor optimism, though sustained trends are dependent on broader economic conditions.
