CryptoQuant’s Julio Moreno stated that Bitcoin’s rally is a short-term relief driven by reduced selling pressure, not indicative of a new bull market.
The Bitcoin bullish index stands at only 10 out of 100, reflecting persistent bearish conditions, despite price rebounds.
Spot demand decline has eased significantly, with key resistance levels for BTC identified at 79,000 USD and 90,000 USD.
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