The Bull Score index developed by CryptoQuant has fallen to 10 points. A score of 100 indicates the most bullish conditions, while 0 represents the most bearish.
CryptoQuant Bull Score Index has been signaling bearish conditions (40 or below) since Bitcoin was at $96K.
100 represents the most bullish conditions and 0 the least bullish (or bearish).
The Index currently stands at 10. pic.twitter.com/J5vZWYg5Nb— Julio Moreno (@jjcmoreno) April 3, 2025
The shift to a seller-dominated zone (40 points or below) occurred after Bitcoin fell below $96,000.
Analyst Ali Martinez believes that for the leading cryptocurrency to return to a growth trajectory, it must rise above the short-term market participants’ realized price. Currently, this metric stands at $90,570.
The first signal that #Bitcoin $BTC is ready to resume its bull run is reclaiming the short-term holder realized price at $90,570! pic.twitter.com/nkdsG8AcGX
— Ali (@ali_charts) April 4, 2025
QCP Capital noted that after “Liberation Day” of U.S. President Donald Trump, investors will focus on the U.S. labor market report on April 4.
Asia Colour — 4 Apr 25
1/ Liberation Day or Liquidation Day?
President Trump reignites global trade tensions with a sweeping 10% tariff on all U.S. imports. Markets react swiftly — and painfully.
— QCP (@QCPgroup) April 4, 2025
Weaker-than-expected data would strengthen the case for the resumption of rate cuts by the Fed. Traders have increased their expectations to four policy easings of 25 basis points each — in June, July, September, and December.
QCP Capital observed continued hedging in options, as uncertainty and caution still dominate the market. Experts noted that conditions for a rebound in risk assets have emerged amid light positioning and oversold conditions.
According to Valentin Fournier of BRN, the clarification of U.S. trade policy following Trump’s announcement of tariff sizes “creates conditions for the bulls to awaken.”
According to BitMEX co-founder Arthur Hayes, if Bitcoin holds the $76,500 level until U.S. tax day on April 15, the market will rid itself of the uncertainty and volatility caused by trade tariffs. Analyst Michaël van de Poppe pointed to a similar target.
Earlier, CryptoQuant founder and CEO Ki Young Ju announced the end of the bull run for digital gold. He predicts that in the next six months to a year, prices will either decline or move sideways.
In previous reports, Nansen suggested that the crypto market could hit bottom by June.