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Crypto

Bitcoin Signals Potential New Bull Market

Guavy AI Editorial Team
Instruments
BTC
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CryptoQuant reports that Bitcoin has entered the initial phase of a potential new bull market after a 24% rally shifted the market into positive territory.

The report notes that stronger demand is supporting the latest rally, with apparent spot demand growing at its fastest monthly pace since late December.

CryptoQuant's Bull Score jumped from 30 to 80 within a week, reaching its most bullish reading since October 6, when Bitcoin traded around $124,000.

A decisive break above the 365-day moving average of $83,000 would confirm the new bull market; until then, that level is likely to act as an initial resistance, according to CryptoQuant.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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