According to Moreno, the Bull Score Index has been flashing bearish signals\u2014below the critical threshold of 40\u2014since Bitcoin traded around $96,000. At present, the Index has dropped even further, reaching a remarkably low level of 10, indicating severely bearish market conditions.<\/p>\n
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The Bull Score Index is a metric developed to quantify the bullish or bearish sentiment of the Bitcoin market. Scores closer to 100 indicate highly bullish sentiment, suggesting strong buying momentum, while scores approaching 0 indicate overwhelmingly bearish conditions, with significant selling pressure and negative market sentiment.<\/p>\n
With the index now at 10, investor confidence appears notably weakened, pointing towards caution in the short term. Adding to these bearish signals, another CryptoQuant analyst, Maartunn, reported<\/a> increased activity among older BTC holders, known as “Spent Output Age Bands.”<\/p>\n This indicator measures the age of Bitcoin that is actively being moved or transacted. When a large volume of older coins (coins held for several years) is moved, it typically suggests that long-term holders might be preparing to sell.<\/p>\n 1,057 Bitcoin that hadn\u2019t moved in 7\u201310 years just woke up.<\/p>\n Long-term holders may be preparing to sell. https:\/\/t.co\/A6I7Mo3ljX<\/a><\/p>\n \u2014 CryptoQuant.com (@cryptoquant_com) April 3, 2025<\/a><\/p>\n<\/blockquote>\n Maartunn noted that over 1,057 BTC aged between 7 to 10 years recently moved, pushing this indicator above the critical 50 threshold, signifying potential increased selling pressure from long-term investors.<\/p>\n Despite these bearish warnings, some analysts remain optimistic about Bitcoin\u2019s potential near-term performance. Crypto analyst Javon Marks has pointed to<\/a> the Relative Strength Index (RSI), a momentum indicator that measures the speed and change of recent price movements, to justify his bullish stance.<\/p>\n A breakout in the RSI typically signals growing bullish momentum and could precede significant price increases. According to Marks, Bitcoin’s daily RSI has recently held its breakout level, similar to previous bullish occurrences that have historically preceded significant upward moves.<\/p>\n\n
Contrasting Views from Technical Indicators<\/h2>\n
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