Bitcoin market morale is exacerbated with a decrease in the bull points index to 10
The cause of confidence
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The price of Bitcoin seems to have resumed its declining course after briefly recovering to the level of $ 87,000 earlier this week. At the time of writing this report, Bitcoin witnessed a 5.7 % decrease over the past 24 hours, which led to a significant decrease in its price.
Currently, BTC has decreased by 24.7 % of its high altitude at all over $ 109,000 in January, highlighting the continuous decline in the market.
As Bitcoin continues to move in turbulent market conditions, analysts pay attention to various indicators to predict the next step of the original.
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The indicator of the result is the bulls and the consuming age of the age of the age
Cracks analyst Julio Moreno recently High The importance of Cryptoquant, which is a tool for measuring market morale for Bitcoin.
According to Moreno, the Bull Score Index Flashing significant signals – which were traded by the 40 -year -old critical threshold – Bitcoin was traded about $ 96,000. Nowadays, the index has decreased further, as it reached a significantly low level of 10, indicating the severe decline market conditions.
Bull Score is a scale developed to measure biotoin’s biotoin feelings. The degrees that are closer to 100 indicate very upscale feelings, indicating a strong bought momentum, while grades that approach 0 indicate significantly, with great pressure in the sale and negative market morale.
With the existence of the index now at the age of ten, the investor’s confidence appears significantly weakened, indicating caution in the short term. In addition to these descending signals, another encrypted analyst, Maartunn, I mentioned Increased activity between the oldest BTC holders, known as “consuming output domains”.
This indicator measures the age of bitcoin, which is transferred or actively treated. When transferring a large volume of old coins (coins for several years), it usually indicates that the long -term holders may prepare for sale.
1,057 bitcoin that did not move in 7-10 years just woke up.
Their holders may prepare for the long term for sale. https://t.co/a6i7mo3ljx
– Cryptoquant.com (Cryptoquant_com) April 3, 2025
Maartunn pointed out that more than 1057 BTC ranges between 7 to 10 years old, which prompted this indicator over the critical 50 threshold, indicating an increase in possible pressure from investors in the long run.
Different opinions of technical indicators
Despite these descending warnings, some analysts are still optimistic about Bitcoin’s potential performance in the short term. Javon Marx encryption analyst Refer RSI, a momentum index that measures the speed and change of modern price movements, to justify its upscale position.
RSI collapse usually indicates an increase in bullish momentum and may have preceded a significant increase in prices. According to Marks, the daily RSI of Bitcoin recently kept the level of penetration, similar to the previous upscale events that historically preceded major escalating moves.
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However, another analyst known as Titan of Crypto Release Warning note. Titan stressed that Bitcoin needs to maintain its location within a major support channel and maintain the weekly relativity index over important support levels to avoid more correction.
If Bitcoin fails to keep these levels, Titan predicts that it may result in a deeper market decline, causing additional challenges for traders and investors.
A distinctive image created with Dall-E, the tradingView chart
