Bull Score plunged from 90 to 20—the last time it was this low was before the market bottomed in April this year.
According to CryptoQuant’s latest report, the Bitcoin Bull Score Index fell to 20 on Monday, down from 90 a month ago on October 13. Over the past 30 days, apparent demand for Bitcoin has contracted by 284,000 BTC, the fastest pace since March 2025.
Several indicators are weakening at the same time:
1. $BTC is currently around $73,668, hovering near the 200-day moving average at $73,200, while it has yet to reclaim the 365-day moving average at $76,400.
2. The Coinbase premium has been negative for 30 consecutive days, and U.S. buying demand has yet to return.
3. Spot ETFs saw another $95 million in outflows on Tuesday, marking four consecutive days of outflows.
How to read this: A Bull Score of 20 is not, by itself, a signal to buy the dip. CryptoQuant itself notes that the same signal can appear either before a local bottom or at the start of a deeper correction. The key is to watch two levels: if Bitcoin holds the 200-day moving average at $73,200, the weakness may amount to only a shallow pullback; if it loses that level, the next step down is around $71,000. Demand data is more honest than price: the 284,000 BTC contraction over 30 days shows this sell-off isn’t just an emotional panic—it’s a case of buyers simply not stepping in. My view is that the Bull Score bottoming out doesn’t mean the price has bottomed. Don’t rush to treat “extreme bearishness” as a contrarian buy signal; wait for demand to stop bleeding first.
Data as of: 2026-11-11 15:30 UTC
For informational purposes only; not investment advice.
According to CryptoQuant’s latest report, the Bitcoin Bull Score Index fell to 20 on Monday, down from 90 a month ago on October 13. Over the past 30 days, apparent demand for Bitcoin has contracted by 284,000 BTC, the fastest pace since March 2025.
Several indicators are weakening at the same time:
1. $BTC is currently around $73,668, hovering near the 200-day moving average at $73,200, while it has yet to reclaim the 365-day moving average at $76,400.
2. The Coinbase premium has been negative for 30 consecutive days, and U.S. buying demand has yet to return.
3. Spot ETFs saw another $95 million in outflows on Tuesday, marking four consecutive days of outflows.
How to read this: A Bull Score of 20 is not, by itself, a signal to buy the dip. CryptoQuant itself notes that the same signal can appear either before a local bottom or at the start of a deeper correction. The key is to watch two levels: if Bitcoin holds the 200-day moving average at $73,200, the weakness may amount to only a shallow pullback; if it loses that level, the next step down is around $71,000. Demand data is more honest than price: the 284,000 BTC contraction over 30 days shows this sell-off isn’t just an emotional panic—it’s a case of buyers simply not stepping in. My view is that the Bull Score bottoming out doesn’t mean the price has bottomed. Don’t rush to treat “extreme bearishness” as a contrarian buy signal; wait for demand to stop bleeding first.
Data as of: 2026-11-11 15:30 UTC
For informational purposes only; not investment advice.
