Bitcoin Bull Score Index Drops From 80 to 60 as Momentum Weakens

Bitcoin’s Bull Score Index has dropped from 80 to 60 since late September, a new analysis shows. The decline signals a slowing trend as the index sits at a threshold the analyst associates with positive momentum. Bitcoin’s market momentum has weakened since late September, with incoming capital and investor profitability presenting obstacles to further progress. Cryptoquant contributor Darkfost highlighted those conditions in an Oct. 21 assessment of bitcoin’s Bull Score Index on X. BTC was trading at $81,345 at the time of writing. The index combines 10 indicators covering demand, investor profitability, network activity, and liquidity to assess the market environment. Its earlier increase from 30 to 80 in August reflected eight components turning bullish.

First reported by Bitcoin.com News. This page is a short excerpt; the full text is theirs.