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Sign for Bitcoin: Bullish Probability Surpassed the Critical Threshold! - Coin Bulletin
Bitcoin (BTC) price rise has also pushed the indicator measuring bull expectations past the critical threshold again, reaching 60 again.
CryptoQuant analyst Julio Moreno updated the data for the Bull Score Index, an important indicator for Bitcoin. According to the latest data shared by Julio Moreno, the Bull Score Index has currently risen to 60. This situation indicates that signs of renewed growth are emerging in Bitcoin demand and stablecoin liquidity.
Looking at the historical data of the Bull Score Index, it is known that during the periods when the index dropped below 40 points, the market faced a high level of correction risk. Especially during the 2022 bear market, the low levels of the index had been a precursor to significant declines. As highlighted in Julio Moreno's previous analyses, values above 40 points indicate that the bull expectations in the market are still alive.
According to Julio Moreno's previous comments, the Bull Score Index remaining above 40 points indicates that positive expectations persist in the Bitcoin market. The index was developed by CryptoQuant to measure market sentiment, with 100 points representing the strongest rise expectations, and 0 points indicating a strong bear market.
Especially after the price of Bitcoin fell to 74 thousand dollars, the subsequent rise to 95 thousand dollars and the recovery in the Bull Score Index indicate that investors' confidence in the market has been revitalized. However, Julio Moreno emphasized that investors must continue to be cautious, reminding that the trend of the index provides critical clues about the market's direction.