Bitcoin's Bull Run Shows Signs of Cooling Amid Slowing Momentum

Despite its recent surge to an eight-month high of about $87,400, Bitcoin's bull market is showing signs of cooling according to CryptoQuant. The firm's Bull Score Index remains at 90, indicating a still-bullish structure in crypto markets, but on-chain indicators point to slowing momentum.

The 365-day moving average closed above last week, marking the continuation of a bull market for BTC. However, recent data suggests higher selling pressure and weaker demand after the price pullback from $87,400 toward the low $83,000 range.

CryptoQuant's research notes that despite these concerns, the Bull Score Index remains at 90, supporting a bullish structure. This indicates that most tracked indicators still favor a bull market for Bitcoin.