Bitcoin Rises, But Data Shows the Opposite! "8 Out of 10 Bullish Indicators Point to a Bearish Trend!"

Leading cryptocurrency Bitcoin (BTC), led by altcoins, has been on the ￰0￱ this point, BTC made a slight recovery to $116,000 today. However, despite this rise, bull market indicators are predominantly bearish and pointing to a bearish ￰1￱ analyst Maartun said in his latest analysis that eight out of ten CryptoQuant Bull Score Index indicators are in the red, signaling a bearish outlook for ￰2￱ to CryptoQuant analyst analysis, the Bull Score Index consists of ten indicators, of which only two are still in an uptrend: “Growth of Bitcoin demand” and “Technical signal”. However, the remaining eight signals—MVRV-Z score, profit and loss index, bull-bear cycle indicator, inter-exchange flow pulse, network activity index, stablecoin liquidity, trader on-chain margin, and trader realized price—are all in the red.

“Momentum is clearly cooling,” the analyst ￰3￱ was in April when eight of the Bull Score Index indicators were in a downtrend, and Bitcoin fell to levels as low as $76,000 in early ￰4￱ contrast, in July, when BTC reached its first peak this year, $122,800, eight out of ten of these indicators were in the green. However, some analysts linked this situation to the historical September correction and stated that a prolonged bull market would occur. *This is not investment ￰5￱ Reading: Bitcoin Rises, But Data Shows the Opposite! "8 Out of 10 Bullish Indicators Point to a Bearish Trend!"