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CryptoQuant: Bitcoin's current rise may only be a "temporary rebound" rather than the start of a new bull market cycle
Deep Tide TechFlow News, on March 6, according to The Block, CryptoQuant research director Julio Moreno stated that Bitcoin’s recent rebound above $73,000 may be just a short-term “temporary rebound” rather than the start of a new bull market cycle. Although selling pressure has eased since early February and US investor demand has increased, macro and on-chain indicators still show a bear market environment. CryptoQuant’s Bitcoin bull market index remains at 10 out of 100, indicating that the fundamentals and technical indicators related to a bull cycle have not yet recovered. If Bitcoin continues to rise, the next key resistance levels may be around $79,000 and $90,000.