Bitcoin hits $74k, then slips; CryptoQuant says bear market persists
US buying lifted Bitcoin off the lows. But CryptoQuant still calls a bear market.
US demand picked up. The Coinbase Premium flipped from deeply negative in early February to the highest since October, per CryptoQuant.
That push sent Bitcoin to a one-month high near $74,000, then it faded. By Friday morning, price fell over $3,000, back under $71,000. See BTC.
“Bitcoin is still in a bear market despite the recent rally.” That’s CryptoQuant’s message on X.
Their Bull Score Index reads 10/100. It stayed there through the bounce, according to CryptoQuant.
Unrealized losses hit levels last seen in July 2022 before easing. Seller exhaustion helped pause the slide, not reverse it, per the same report.
Analysts there also flagged macro uncertainty. Momentum may be nearing a “critical shift,” but direction remains unclear, per CryptoQuant.
- US bid returns: Coinbase Premium at highest since Oct source
- Price spike and fade: ~$74,000 high, back below $71,000 BTC
- Bear reading: Bull Score 10/100 source
- CryptoQuant: “still in a bear market” post
- Unrealized losses near July 2022 levels before easing source
