Bitcoin Relief Rally Fades as Bear Market Signals Hold
Cointelegraph
Bitcoin's recent rally above $74,000 was short-lived, as analysts maintain a bearish outlook due to persistent market uncertainties.Summary
Bitcoin experienced a brief relief rally, reaching over $74,000 on Thursday, but quickly retraced, falling back below $71,000. Analysts at CryptoQuant assert that despite the rally, Bitcoin remains in a bear market, citing a Bull Score Index of 10 out of 100. LVRG Research’s Nick Ruck attributes the rally to renewed risk appetite and ETF inflows, but warns of headwinds from macro uncertainties. While US buying interest, indicated by a positive Coinbase Premium, has increased and selling pressure has eased, the overall market dynamics still suggest caution. SwissBlock analysts note a shift in momentum, potentially signaling a regime change, but the prevailing sentiment remains bearish.
(Source：Cointelegraph)