CryptoQuant Index Returns to Neutral at 50, Market May Be in a Transitional Phase

CryptoQuant's Bull Score Index has rebounded to a neutral 50 for the first time since Bitcoin's price broke through $126,000, a situation not seen since then. The index combines ten on-chain indicators and currently shows a balance between bullish and bearish signals, usually indicating that the market is in a transitional phase rather than showing a clear trend. However, after a similar neutral reading in March 2022, the price fell sharply. Although on-chain conditions have improved, caution is still warranted.