Recent data from CryptoQuant reveals negative changes in Bitcoin bull market indicators. Analyst Maartun reports that most metrics signal a downward trend.
Conclusion on Bull Market Status
Analysis of Maartun's 'Bull Score Index' shows that out of ten different metrics, only two remain in the positive zone. While demand growth and technical momentum maintain positive signs, the other eight indicators point to a market decline, including network activity and stablecoin liquidity.
Impact of Technical Data
Maartun noted that the current weakening momentum resembles the situation observed in April when Bitcoin fell to $76,000. After a possible recovery impulse to $122,800 in July, most indicators were positive. This may suggest the likelihood of a future correction.
Market and External Factors
Some investors attribute Bitcoin's weak performance to September historically being a low-yield month. Despite short-term pressures, there is speculation that the current cycle may set the stage for a longer-term bull market after corrections. Analysts also warn about high volatility and the influence of global risk factors.
In these circumstances, it is important for investors to develop strategies considering both ETF inflows and macroeconomic data to be prepared for potential market shifts.
