The recent surge in the price of the leading cryptocurrency, Bitcoin (BTC), pushing it above $73,000, has fueled bullish sentiment. However, according to CryptoQuantThe recent surge in the price of the leading cryptocurrency, Bitcoin (BTC), pushing it above $73,000, has fueled bullish sentiment. However, according to CryptoQuant

Bad News for Bitcoin (BTC) Bulls from an Analytics Company! “The Recent Rise Isn’t Real, We’re Still in the Bear Market!”

2026/03/06 16:25
2 min read
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The recent surge in the price of the leading cryptocurrency, Bitcoin (BTC), pushing it above $73,000, has fueled bullish sentiment.

However, according to CryptoQuant, while Bitcoin’s rise looks encouraging, it appears to be a short-term relief rally rather than the beginning of a new bull cycle.

Julio Moreno, head of research at CryptoQuant, said that according to on-chain data, Bitcoin’s recent recovery was merely a relief rally.

At this point, Moreno predicts that BTC’s rise above $73,000 is not the beginning of a new bull cycle, but rather a short-term bounce triggered by decreasing selling pressure.

Moreno stated that Bitcoin is still in a bear market, adding:

Moreno attributed the recent recovery to improved spot demand, increased interest from US investors, and reduced selling pressure from both short-term and long-term investors.

Moreno highlighted that CryptoQuant’s Bitcoin Bull Score Index is currently 10 out of 100, indicating that technical indicators have not yet recovered in favor of a bull market.

The analyst added that if Bitcoin’s upward trend continues, the next major resistance zone will likely be between $79,000 and $90,000.

The $79,000 level historically acts as resistance in bear markets, representing the lower end of the on-chain price for investors.

$90,000 represents the lowest level of overall realized price for investors, limiting a rally seen earlier this year. Moreno also noted that this range acted as a strong resistance level during the January rally.

*This is not investment advice.

Continue Reading: Bad News for Bitcoin (BTC) Bulls from an Analytics Company! “The Recent Rise Isn’t Real, We’re Still in the Bear Market!”

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