Bitcoin Bull Score Index Turns Neutral For First Time This Bear Market

Bitcoin’s Bull Score Index has climbed again to 50, shifting out of outright bearish territory and into what CryptoQuant’s Julio Moreno described as a impartial zone.

In a put up on X, the CryptoQuant head of analysis wrote: “First time on this bear market that the Bull Score Index enters impartial zone (50). In March 2022, the Bull Score entered impartial territory for a few week, after which the value resumed its decline.”

What This Means For Bitcoin Price

That comparability is doing many of the work right here. Moreno is just not presenting the transfer to 50 as affirmation of a sturdy development reversal. He is pointing as a substitute to a previous episode during which circumstances improved simply sufficient to depart bearish territory, just for the market to roll over once more quickly after. The implication is simple: impartial is best than bearish, however it isn’t the identical factor as bullish.

The CryptoQuant chart helps body that shift. The index spent a lot of mid-2025 in stronger territory, with readings often above 60 whereas bitcoin traded broadly in the next vary and pushed above $120,000.

That backdrop modified sharply later within the 12 months. As value weakened into late 2025 and early 2026, the Bull Score Index deteriorated as well, at instances dropping towards the underside of the size as bitcoin sank into the low-$60,000s.

What stands out now could be the restoration within the indicator from these depressed readings. By April, the Bull Score had risen back to roughly 50 as bitcoin recovered towards the mid-$70,000 vary. In different phrases, market circumstances as measured by CryptoQuant are now not flashing the identical diploma of weak spot they had been earlier within the downturn. But they haven’t but crossed into the zone the chart labels as bullish, which begins at 60.

That leaves the sign in an ungainly however necessary center floor. A transfer from bearish to impartial can point out that promoting strain is easing and that some underlying circumstances are bettering. It may also mark nothing greater than a pause inside a broader downtrend. Moreno’s 2022 analogy suggests he sees that ambiguity as the important thing level, slightly than the headline worth of fifty by itself.

The Bull Score Index is one among CryptoQuant’s composite Bitcoin market gauges. Rather than monitoring a single datapoint, it measures the share of bullish readings throughout 10 key indicators tied to community exercise, investor profitability, liquidity, and different basic and technical circumstances.

That is why the transfer to 50 issues: on CryptoQuant’s framework, it means that roughly half of the indications that outline a bullish regime have turned constructive once more, even when the market continues to be in need of the 60-plus zone the agency treats as outright bullish.

At press time, BTC traded at $78,057.