Analysis: Bitcoin Bull Score Index exits bear market territory, but history warns of false signals seen in 2022.

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ME News, April 23 (UTC+8), CryptoQuant's Bitcoin Bull Score Index has rebounded to the neutral level of 50 for the first time since Bitcoin fell from its high of $126k, signaling a possible shift from bearish to neutral market conditions. The index aggregates ten on-chain indicators, currently showing an equal number of bullish and bearish signals. Julio Moreno, Head of Research at CryptoQuant, noted that this is the first time the index has entered neutral territory during this bear cycle. However, history serves as a warning: in March 2022, the index also rose to 50, after which Bitcoin's price halved from around $48k to below $20k. QCP Capital stated that current derivatives market positioning still points to range-bound trading rather than sustained breakthroughs, with front-end volatility remaining low and skew still favoring downside protection. (Source: PANews)
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