CryptoQuant: The bullish momentum for Bitcoin remains sluggish, with the current key resistance range between $84,000 and $96,000
According to ChainCatcher's message and the CryptoQuant Insights report, Bitcoin rebounded after Trump announced a 90-day tariff suspension, while ETH and XRP also saw their declines narrow. Despite the rebound in Bitcoin's price, CryptoQuant's bull market score index dropped to 10, marking its lowest level since November 2022; this index must break through 40 to indicate sustained bullish momentum.
CryptoQuant analysts pointed out that Bitcoin's current key resistance levels are between $84,000 and $96,000. If bullish momentum weakens, Bitcoin’s gains may be limited within this price range, similar to past bear market cycles. Therefore, the market still needs to remain vigilant as the trend of the bull market index depends on whether investor confidence can be reignited.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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