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Bitcoin Bull Score Index Drops From 80 to 60 as Momentum Weakens
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Bitcoin’s Bull Score Index has dropped from 80 to 60 since late September, a new analysis shows.
Key facts
- Over the same period, wallets with between 1 and 100 BTC sold roughly 33,000 BTC, while those below 1 BTC shed about 14,000 BTC
- An Oct. 13 analysis of large-holder activity by Cryptoquant placed the Bull Score Index at 80 after a September peak of 90
- Bitcoin’s Bull Score Index has dropped from 80 to 60 since late September, a new analysis shows
- Since late September, the Bull Score Index has fallen from 80 to 60, signaling a slight slowdown in the trend
Summary
Bitcoin’s market momentum has weakened since late September, with incoming capital and investor profitability presenting obstacles to further progress. “Since late September, the Bull Score Index has fallen from 80 to 60, signaling a slight slowdown in the trend.” The index combines 10 indicators covering demand, investor profitability, network activity, and liquidity to assess the market environment. “Even so, as long as it stays above 60, the overall momentum remains positive.”