Bitcoin bear market signals as price slides toward $70,000.
Bitcoin is currently hovering in the mid-$70,000s, remaining around that level in recent price readings and showing subdued price movement in short-term sessions and reflecting a period of constrained upward momentum. It is trading far below its October peak, with current valuations materially lower than the high recorded in October and highlighting a clear gap between present prices and that earlier level.
On-chain metrics show CryptoQuant’s Bull Score Index at zero, presented verbatim as ‘Bull Score Index sitting at zero,’ which records the index level as zero in the available data.
Glassnode documents weak spot volumes and describes ‘a demand vacuum where selling pressure is not being met with sustained absorption,’ using that exact wording to characterize spot market conditions.
Stablecoin flows have shifted as USDT market cap growth turned negative for the first time since 2023, stated exactly as ‘USDT market cap growth turning negative for the first time since 2023.’
Separately, long-term demand growth has collapsed from last year’s highs, described in the material as a collapse in long-term demand growth relative to the prior year’s peaks.
U.S. spot bitcoin ETFs have flipped from net buyers to net sellers year over year, a change recorded in the available data. Trading metrics also show that “Coinbase premium has remained negative since October.” The ETF flow reversal and the persistent negative Coinbase premium are included among the market behavior observations in the source material.
Bitcoin is trading below its 365-day moving average in the reported metrics, and technical support is identified as clustered in the $70,000 to $60,000 corridor. These price-level and moving-average indicators are listed explicitly in the source content as current market conditions. The items above are presented without additional explanatory mechanisms in the original reporting as reported.
Prediction markets show traders leaning toward no change at the Federal Reserve’s April meeting and modest expectations for a June rate cut.
Prediction markets show traders still leaning heavily toward no change at the Federal Reserve’s April meeting, with only modest expectations for a June rate cut.
These lines are presented in the source material as the prediction-market assessment of traders’ rate expectations.
The quoted sentence above summarizes the prediction-market view given in the reporting. No other Federal Reserve policy probabilities are provided in that quoted passage.
Bitcoin’s decline toward $70,000 reflects bearish on-chain data signals, subdued trading volumes, and weakening demand metrics. The reporting cites weak spot volumes and “a demand vacuum where selling pressure is not being met with sustained absorption,” notes USDT market cap growth turning negative for the first time since 2023, and records a collapse in long-term demand growth from last year’s highs. Prediction markets show traders leaning toward no change at the Federal Reserve’s April meeting and modest expectations for a June rate cut.
