#bitcoin
📉 Bitcoin is leaving the “pessimism zone”, but the surge is still ahead
CryptoQuant analytics indicate an important transitional stage for $BTC :
• Bull Score reached 50: For the first time since the fall from the peak of $126k, the index has left the bearish zone. This is a neutral state - bears are no longer dominant, but bulls have not yet taken full control of the market (we are waiting for the indicator >60).
• Futures basis is stabilizing: Recent dips in the basis into the negative indicate capitulation and “cleansing” of the market from excessive leverage. A return to neutral/positive values against the background of price growth is a classic foundation for the formation of a local bottom.
⚠️ Conclusion: We are in a transformation phase. The market has gotten rid of panic sentiment, but a consolidation above the range of $76,800 - $80,000 is needed for a stable uptrend. Caution is still relevant, but the structure is becoming much healthier.
