The Great Bitcoin Swoon: When Bulls Turn into Bears! 🐂➡️🐻

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Ah, the ever-so-charming CryptoQuant’s Bitcoin Bull Score Index has plummeted to the rather uninspiring figure of 20. This, dear reader, suggests that our beloved asset might be undergoing the most fashionable of bearish transitions-how delightful! 🥳

Behold! The Bull Score Index Has Entered “Extra Bearish” Territory, Caution Advised

In a rather riveting missive on X-because apparently, the English language has run out of letters-CryptoQuant’s community analyst, the intrepid Maartunn, has revealed that the illustrious “Bull Score Index” has decided to undergo a transformation post-haste, courtesy of Bitcoin’s recent price hiccup. This index is as crucial as a soufflé recipe: it dictates the culinary phase of the cryptocurrency market based on a hodgepodge of key on-chain metrics.

Now, feast your eyes upon the chart below, which tantalizingly illustrates the trend of this illustrious indicator over the past year:

Lo and behold, as the graph indicates, Bitcoin waltzed into the “bullish cooldown” phase at the start of August, a phase that maintained its glamorous façade even as its price strutted around, achieving a new all-time high later that month-a signal that perhaps our breakout was as fleeting as youth itself. 🎉

In the aftermath of this peak, the Bull Score Index took the scenic route into the “getting bearish” zone, and now, it has unceremoniously crashed headfirst into “extra bearish” levels. “This is something to take serious,” notes the wise Maartunn-truly sage advice amidst this financial soap opera.

Here’s another dazzling chart, painstakingly breaking down the individual signals contributing to our dear Bull Score Index’s present state:

The graph reveals that, rather disappointingly, almost all indicators are donning a bearish attire at present. Among these metrics, the “Market Value to Realized Value (MVRV) Z-Score” seems to be the belle of the bearish ball, lamentably linked to investor profitability. It appears that the current market conditions are so bleak they might as well throw a pity party-all invitations turned red. 🎈

Recalling our bittersweet history, the last time the MVRV Z-Score and Bull Score Index decided to don their bearish hats was back in February, leading to a devastating phase of negative price action. As we find ourselves once again with this “extra bearish” whisper, one can only shudder in suspense to see if the price will indeed transform into yet another dismal reality.

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This concerning signal, as elucidated by Martinez, is the net position change of the 90-day exponential moving average (EMA) Bitcoin Supply In Profit, which, as you might guess, has recently conspired to turn negative-one can’t help but feel like we’re watching a tragic play unfold, reminiscent of our earlier bearish market phase this year.

BTC Price

While our on-chain metrics are strumming a woeful dirge concerning Bitcoin’s prospects, let it be known that its price has bravely clawed back to a heartening $113,000 for the time being. A round of applause for our resilient champion! 👏

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2025-08-29 02:13