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CryptoQuant Views Bitcoin's Rebound as a Short-Term "Relief Rally," Not a New Bull Market
On-chain analytics firm CryptoQuant has analyzed Bitcoin's recent price action, concluding that the rebound—briefly pushing BTC above $73,000—is more accurately described as a short-term "relief rally" rather than the onset of a sustained bull market. Head of Research Julio Moreno highlighted that spot demand contraction has narrowed significantly (from around -136K BTC earlier in 2026 to approximately -25K BTC recently), easing selling pressure and supporting the bounce.
However, CryptoQuant's Bull Score Index remains deeply bearish at just 10 out of 100, with fundamental and technical indicators pointing to an ongoing bear market environment. Long-term holder selling has decreased to multi-month lows, but broader metrics suggest limited conviction for a major reversal. Potential resistance levels lie at $79,000 and $90,000 if upward momentum persists, though analysts warn that without stronger catalysts, the rally may prove temporary. This view aligns with cautious market sentiment, emphasizing the need for improved on-chain health before declaring a new bullish phase.#GateLaunchesGateforAI #CryptoMarketsDipSlightly #GoldAndSilverMoveHigher #USIranTensionsImpactMarkets