{"id":56742,"date":"2025-04-04T06:30:56","date_gmt":"2025-04-04T06:30:56","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=56742"},"modified":"2025-04-04T06:30:56","modified_gmt":"2025-04-04T06:30:56","slug":"bitcoin-market-sentiment-worsens-as-bull-score-index-drops-to-10","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=56742","title":{"rendered":"Bitcoin Market Sentiment Worsens as Bull Score Index Drops to 10"},"content":{"rendered":"

Bitcoin\u2019s price appears to have resumed its downward trajectory after briefly recovering to the $87,000 level<\/a> earlier this week. At the time of writing, Bitcoin has experienced a 5.7% decline in the past 24 hours, bringing its price significantly below recent highs.<\/p>\n

Currently, BTC is down approximately 24.7% from its all-time high recorded above $109,000 in January, highlighting ongoing bearish pressure in the market.<\/p>\n

As Bitcoin continues to navigate turbulent market conditions<\/a>, analysts are paying close attention to various indicators to predict the asset\u2019s next move.<\/p>\n

Bull Score Index and Spent Output Age Bands Indicator<\/h2>\n

CryptoQuant analyst Julio Moreno recently highlighted<\/a> the significance of the CryptoQuant Bull Score Index, a tool designed to measure market sentiment for Bitcoin.<\/p>\n

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

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<\/a>, 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<\/a>, another CryptoQuant analyst, Maartunn, reported<\/a> increased activity among older BTC holders, known as \u201cSpent Output Age Bands.\u201d<\/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

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

Contrasting Views from Technical Indicators<\/h2>\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<\/a> and could precede significant price increases. According to Marks, Bitcoin\u2019s daily RSI has recently held its breakout level, similar to previous bullish occurrences that have historically preceded significant upward moves.<\/p>\n

However, another analyst known as Titan of Crypto has issued<\/a> a cautionary note. Titan stressed that Bitcoin needs to maintain its position within a key support channel and keep the weekly RSI above important support levels to avoid further correction.<\/p>\n

If Bitcoin fails to hold these levels, Titan predicts that a deeper market downturn could ensue, causing additional challenges for traders and investors.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s price appears to have resumed its downward trajectory after briefly recovering to the $87,000 level earlier this week. At the time of writing, Bitcoin has experienced a 5.7% decline in the past 24 hours, bringing its price significantly below recent highs. Currently, BTC is down approximately 24.7% from its all-time high recorded above $109,000 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-56742","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56742"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56742"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56742\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}