CryptoQuant Signals Intensifying Bearish Conditions for Bitcoin with Bull Score Drop

The Bull Score index created by CryptoQuant has dropped to 10 points. A score of 100 indicates the strongest bullish market conditions, while a score of 0 reflects bearish conditions.

The shift into the seller-dominated zone (40 points or lower) occurred after Bitcoin fell below $96,000.

Analyst Ali Martinez believes that for the leading cryptocurrency to regain an upward trajectory, it must rise above the breakeven price for short-term market participants, which currently stands at $90,570.

QCP Capital reminded investors to focus on the American labor market report scheduled for April 4, following former President Donald Trump’s “Day of Liberation.”

Weaker-than-expected data would strengthen arguments for resuming decreases in the Federal Reserve’s interest rates. At this point, traders have raised their expectations to anticipate four policy easing moves of 25 basis points each in June, July, September, and December.

According to QCP Capital, hedging in the options market continues as uncertainty and caution still prevail. Experts noted that the backdrop of minimal positioning and oversold risk assets is creating conditions for a rebound.

Valentin Fournier of BRN stated that clarification of U.S. trade policy after Trump announced tariff rates “creates conditions for a bull revival.”

Arthur Hayes, co-founder of BitMEX, mentioned that if Bitcoin maintains a level of $76,500 until the U.S. tax payment deadline on April 15, the market will eliminate uncertainty and volatility caused by trade tariffs. Analyst Michaël van de Poppe also pointed to a similar benchmark.

Previously, Ki Young Ju, the founder and CEO of CryptoQuant, declared the end of the Bitcoin bull run, predicting that prices will either decline or move sideways over the next six months to a year.

Furthermore, Nansen has suggested that the cryptocurrency market could reach its bottom by June.