Bitcoin Bull Score Hits Zero, First Time Since 2022 Bear Market
Bitcoin's on-chain Bull Score dropped to zero, signaling a potential transition to consolidation not seen since the 2022 bear market.Summary
The key on-chain metric assessing Bitcoin's upward potential, the Bull Score, has fallen to zero out of ten, marking the first time this has happened since January 2022, preceding the last major bear market. The Bull Score integrates ten indicators across Network Activity, Volume, Investor Profitability, and Market Liquidity; a score below 40 signals a bear market, while above 60 signals a bull market. Currently, all ten components are below trend, with significant plunges in MVRV (Market Value to Realized Value) and stablecoin liquidity, suggesting reduced investor profitability. Although the score is historically low, the current context is different as Bitcoin trades near $100,000, unlike in 2022. Analysts attribute this drop to slowing ETF and corporate inflows, concluding that the setup resembles an early bear-market transition requiring new demand for a sustained rally.
(Source：BeInCrypto)