Bitcoin’s Bull Score Climbs, Bear Market Lingers

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In the vast expanse of the digital realm, where fortunes are made and lost with the swiftness of a falcon’s dive, the Bitcoin Bull Score Index has ascended to a value of 30, a modest triumph in the eyes of the market’s sages. Yet, as the old adage goes, even the mightiest oak begins as a acorn, and so too does this score, a fragile sapling in the forest of financial speculation.

The Bull Score’s Modest Ascent

Behold, the venerable Julio Moreno, head of research at CryptoQuant, who, with the gravity of a prophet, proclaims the latest developments in this enigmatic index. This metric, a tapestry woven from ten indicators, seeks to unravel the market’s current phase, a riddle as old as time itself. Among its threads are the MVRZ Z-Score, Realized Price, and the elusive CryptoQuant P&L Index, each a whisper in the wind of volatility.

The Bull Score, in its wisdom, counts the number of indicators that dare to shout “bull!” for BTC. A score of 60, one might say, is a chorus of six voices, while 30 is but a single, hesitant note. Yet, in the grand symphony of finance, even a single note can stir the soul-or at least the wallets of the desperate.

Behold the chart, a canvas of fluctuation, where the Bull Score once plummeted to zero, a state where all indicators turned their backs on Bitcoin, as if the market itself had succumbed to a melancholy akin to a Russian winter. The red signals, those harbingers of despair, followed a price collapse so profound it could rival the fall of a monarchy.

Now, a flicker of hope! The Bull Score has risen, a phoenix reborn from the ashes of pessimism. Yet, this ascent is but a whisper, a mere 30, corresponding to three indicators daring to whisper “bull.” “Bull flags that turned on were: exchange flows, stablecoin liquidity growth, and price momentum,” the analyst intones, as if reciting the gospel of a new era.

And so, the index has escaped the “extra bearish” zone, a realm where values dip below 20. Yet, the normal bearish zone looms at 40, a threshold requiring two more indicators to turn green. One might wonder if the market’s recovery is a fleeting breeze or a harbinger of change. The CryptoQuant sage, ever the realist, posits, “We are still in a bear market, but in a relief rally.” A relief, indeed, for those who have yet to lose their shirts.

In another corner of the digital realm, Bitcoin sellers, those valiant souls, have begun to tally their losses. The on-chain analytics firm Glassnode, with the solemnity of a judge, notes that the 90-day moving average of the Bitcoin Realized Profit/Loss Ratio now hovers below 1, a grim testament to the market’s woes. “Historically, breaks below the neutral level (~1) have persisted for 6+ months before reclaiming it,” they warn, as if issuing a dire prophecy.

The Price of Bitcoin

Bitcoin, that fickle lover, has reclaimed its throne above $70,000, having danced perilously close to the $66,000 abyss during the weekend. A tale of resilience, or perhaps a mirage, as the market’s pendulum swings ever onward.



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2026-03-13 06:05