Bitcoin traded near $62,000 today, giving part of the recovery that brought it to $64,000 from the bear market low of $57,700 last week. The pullback holds the price above the $60,000 level that CryptoQuant it works as a support, although it reduces the recovery by 11% from the ground.
The dip came in the form of CryptoQuant’s Weekly Crypto Report, published today and shared Bitcoin Magazineargued the background points to other benefits. The Director of Research Julio Moreno prepared the changes as a restoration of the bear market instead of changing things, with one caveat: the Bull Score Index of the company, which includes the chain, the market, and the calculation on a scale of 0-to-100, is at 20, within the lower zone or below 40 and tied to 60. stable bull market.
The amount of this report is based on the weather. Over the past ten years, July has been among the strongest months for Bitcoin, closing the most in many years.
Model made in down-round of 2018 and 2022, when Bitcoin gained 20% and 17% in a month when most of the trends were weak. By July 2026 in the decline of the bear market, the report said, the trend reduces the risk to come.
Bitcoin demand is turning
Demand has turned. The 30-day change in absolute demand – spot plus futures – fell to -650,000 BTC in early June, the worst reading since 2022, when Bitcoin fell to $58,000.
Since then, it has returned to neutrality, and futures are looking to cross into positive territory and sell off gradually from mid-May. Returning to the positive side, the report said, would ensure the engine would re-ignite.
US consumers are showing signs of stabilization. The Coinbase Premium Index, a proxy for US spot demand, fell below zero in early June as Bitcoin fell to near $57,000, one of its weakest levels of the year.
The price remains below zero, although its path has followed the rise of Bitcoin and shows a steady interest.
The calculation has been added. The chain seller did not make a profit / loss margin, because of the money that happened in one or three months, it fell down -24% at the beginning of June, under -12% at home the company works as a non-profit. Such extreme readings signal the end of a long period where long-term holders are receiving, the report said, and the range will return as the price drops to $57,700.
Today’s drop to $62,000 proves the report to be false. CryptoQuant rates the market as bearish, with internal corrections but the bearish regime is in full swing.
A sustained rally, he concluded, would require the Bull Score Index to rise above 60. Until then, the company sees the move as a resumption of the bear market, not a reversal – this week’s revision of the reversal cannot be denied.
