- Bitcoin’s Bull Score climbing to 60 reflects a renewed wave of optimism as rising demand and liquidity fuel cautious market recovery.
- Historical trends show that sustained Bull Scores above 60 have often preceded major Bitcoin price rallies and bullish breakouts.
- Despite Bitcoin trading near historic highs, recent sharp Bull Score drops below 40 highlight lingering risks and fragile sentiment.
Bitcoin’s Bull Score Index has recently surged to 60, indicating a fresh wave of market optimism. According to CryptoQuant, demand for Bitcoin and stablecoin liquidity is beginning to rise again. The latest chart tracks Bitcoin price movements and the Bull Score Index from 2020 through early 2025. It shows a strong historical correlation between bullish sentiment and price action.
Besides, Bitcoin started 2020 trading under $10,000 with moderate Bull Score readings between 40 and 60. Prices gradually climbed through the year, supported by consistently high Bull Scores above 60. Hence, early 2021 saw an acceleration in bullish momentum, propelling Bitcoin toward its first major peak near $60,000.
Bitcoin’s Historic Rallies and Bearish Phases
Bitcoin maintained elevated Bull Score readings during the initial 2021 rally, often reaching the maximum score of 100. However, mid-2021 brought a cooling-off period, though Bitcoin briefly reclaimed the $60,000 level by late 2021. Bullish sentiment revived temporarily during this phase.
Consequently, the huge decline in 2022 dragged the prices to levels below $30,000 and hit as low as nearly $20,000 at its worst. The Bull Score fell drastically at this point, often dipping below 40. Additionally, 2022 recorded the longest period of bearish sentiment in the entire five-year period.
Recovery efforts gained ground in early 2023 as Bitcoin consolidated between $20,000 and $30,000. Additionally, Bull Score readings improved but remained volatile during this consolidation. Strengthening momentum in late 2023 helped prices surge toward $40,000, with Bull Score readings climbing consistently above 60 once more.
The 2024 Bitcoin Surge and Current Outlook
The most breathtaking era came in the year 2024 is when Bitcoin broke all its previous records. Prices soared over $100,000 by the middle of 2024, touching unprecedented heights. Moreover, this record run was also followed by extended maximum Bull Score readings, showing extreme market optimism.
However, over the last few months, there has been a sharp price retracement, with Bitcoin rallying between $80,000 and $90,000. The Bull Score has also plunged well below 40, pointing towards a bearish trend even when prices were previously high.
