Bitcoin Market Sentiment Worsens as Bull Score Index Drops to 10
Summary
Bitcoin's price has resumed a downward trend, currently experiencing a 5.7% decline in the past 24 hours, falling approximately 24.7% from its all-time high of over $109,000 in January. The CryptoQuant Bull Score Index indicates bearish market sentiment, currently at a low of 10, suggesting significant selling pressure. Increased activity among long-term Bitcoin holders, with over 1,057 BTC aged 7 to 10 years recently moved, signals potential selling from this group. Some analysts remain optimistic, citing the Relative Strength Index (RSI) holding a breakout level, which could indicate future price increases. However, caution is advised as Bitcoin must maintain key support levels to avoid deeper market corrections.
