Crypto

Bitcoin's Bull Score Hits 90, But Fading Demand Cools Gains

Guavy AI Editorial Team Published September 30, 2026

Instruments

BTC

CryptoQuant's Bull Score has reached an all-time high of 90 out of 100, signaling Bitcoin's entry into a bull-market phase.

This indicator assesses Bitcoin's market phase by combining on-chain and market data. According to CoinDesk, the sharp rise in the Bull Score was driven by Bitcoin breaking above its 365-day moving average last week.

However, despite the bullish signal, actual demand for Bitcoin has been declining. Spot demand fell by about 170,000 tokens over the past 30 days, while apparent demand trended lower throughout September.

The decline in futures-market demand was even steeper, plunging by a whopping 90% in just 15 days. According to Julio Moreno, CryptoQuant's head of research, 'the rally will be difficult to sustain without an influx of new demand.'

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