Bitcoin has hovered near a critical range in recent days, with the asset yet to make a decisive move. The cryptocurrency has been trading in a tight range between $69,000 and $70,000 and remained within the range for several sessions.
However, the current market momentum appears to be weakening and could gradually tilt towards a bullish direction as several key indicators begin to tilt with a clearer bias.
Bitcoin bears could gradually disappear
The Bitcoin Bull Score Index, a measure used to assess the level of bullish or bearish sentiment in the market, rose to 30 in the past day.
This reading marks the highest level since October 2025. Before this move, the index had remained significantly lower for an extended period of time. The recent shift signals that bearish pressure on the market is beginning to ease after dominating trading activity for weeks.
According to analyst Julio MorenoThe recent shift has developed gradually in recent days and largely reflects improving capital inflows.
“Bull flags that lit were: currency flows, stablecoin liquidity growth and price momentum.”
Moreno noted that the change mainly reflects a shift in sentiment from an “extremely bearish” positioning to simply “bearish.” However, he cautioned that the development does not yet confirm the start of a sustained rally.
Social sentiment also seems to be improving.
Recent findings indicate that Bitcoin continues to gain popularity following the mining of its 20 millionth token earlier this month. The milestone has renewed market attention and contributed to broader market discussions around Bitcoin [BTC] long-term scarcity.
All things considered, the current market phase appears to represent a period of enlightenment.
The correlation of the financial markets indicates volatility
Bitcoin could also see stronger price reactions due to its growing correlation with traditional financial markets, especially the S&P500.
An important indicator is the CBOE Volatility Indexcommonly known as the VIX. The index measures expected volatility in the S&P 500 and often reflects whether investors are experiencing fear or optimism in the stock markets.
Data from Alphractal showed that the VIX was trading around 30, indicating that the markets are going through a moderately volatile phase.
Historically, Bitcoin has tended to react more aggressively than the S&P 500 during periods of market movement. When stocks rise, Bitcoin often registers stronger upward moves.
Conversely, downturns in traditional markets can also lead to sharper declines in the cryptocurrency market.
While the current level of volatility doesn’t necessarily indicate a bullish or bearish outcome, it does suggest that Bitcoin could strengthen the direction that broader market sentiment ultimately takes.
Traders continue to lean towards accumulation
Examining how traders position their Bitcoin holdings remains one of the clearest ways to understand broader market sentiment.
Current spot market activity is showing a noticeable reduction in selling pressure, limiting the amount of Bitcoin entering the circulating supply via exchanges.
Five days ago, the market recorded an inflow of approximately $191 million worth of Bitcoin through selling activities. However, over the past three days, net inflows have reached $138 million, reflecting a reduction of approximately $53 million in selling pressure.
According to the latest data, net inflows are around $24.36 million, indicating that more traders are now choosing to hold their assets rather than sell them.
Over a broader time frame, the accumulation trends appear even clearer. Approximately $1.70 billion worth of Bitcoin has been acquired through centralized exchanges in the last 30 days. Such developments reinforce the relief prospects suggested by the Bull Score Index.
Final summary
- Bitcoin traded between $69,000 and $70,000, staying within the range as the market waited for a decisive breakout.
- The Bull Score Index rose to 30, the highest level since October 2025, indicating that bearish pressure is easing.