Bitcoin Bull Score Drops to Zero, Signaling Potential Bearish Trend

The Bitcoin Bull Score has reached zero for the first time since January 2020, according to analysis by CryptoQuant. This signals a shift in market sentiment and potential bearishness. The score, which analyzes on-chain data to gauge market health, has historically correlated with both market consolidations and downturns. CryptoQuant’s latest report highlights three key factors that could influence Bitcoin’s future trajectory: renewed ETF inflows, increased liquidity growth, and the re-accumulation of Bitcoin by long-term holders (LTHs). Without these catalysts, the market may face extended consolidation or a further decline.