BTC bear market over? Too early to tell, says analyst

Hopes that the Bitcoin bear market has ended are growing as a key indicator tracking the market's overall health improves, CoinDesk reported. CryptoQuant's Bitcoin Bull Score Index, which aggregates 10 major on-chain metrics, has entered its neutral zone for the first time since Bitcoin peaked at $126,000 last October. However, Julio Moreno, head analyst at CryptoQuant, cautioned that a similar situation could repeat itself. "The index also entered the neutral zone in March 2022 during the bear market," Moreno said. "At that time, Bitcoin's price saw a temporary rebound before falling over 50% to break below $20,000. The possibility of a price drop recurring cannot be ruled out."