Bitcoin investment sentiment reversal... Bullish index 20 → 80 'surge'
According to CryptoQuant, investment sentiment towards Bitcoin (BTC) has sharply reversed, and spot demand has significantly increased. Along with this, Bitcoin Bull Score surged from 20 to 80 in a short period.
The Bull Score reflects the balance between buying and selling pressure for Bitcoin, and is interpreted as a Bullish Signal if it exceeds 60. This rise is not just a technical rebound, but indicates that both institutional and individual investors are actively participating in buying.
CryptoQuant analyzed that “The increase in demand in the spot market signifies a restoration of trust in Bitcoin, and the market is reverting to a risk-on mode.” In particular, the increase in inflows to the U.S. spot ETF and positive expectations for the U.S.-China trade talks have been evaluated to have affected investment sentiment.
Market experts believe that if Bitcoin stably maintains above 100,000 dollars, there is a possibility of a strong rally aiming for the next resistance level at 120,000 dollars. However, they advised paying attention to whether the major support levels are maintained, as there might be short-term adjustments.