As evidenced by a recently completed on-chain analysis, the Bitcoin market is at a critical stage. The latest analysis indicates that Bitcoin’s price does not show any clear direction, but rather reflects uncertainty.
Bull Score Index in Neutral Territory
Then, you can get in touch with us. X post On May 2, Darkfost, an anonymous market analyst revealed that Bitcoin was in a phase of transition based on the Bitcoin Bull Score Index.
For context, this metric primarily measures overall market strength by combining key indicators — such as liquidity, demand, activity, and sentiment — into a single value that indicates whether conditions are bullish or bearish. Darkfost says that the Bull Score is 50, which the expert in the market considers neutral. Notably, while a ‘50′ reading is typically taken as a sign of short-term improvement, it still does not reflect a shift in the market’s structure.
On this graph, we can see the Bitcoin in its current phase of transition.
Catch between an breakout and the continuation of a correction.
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This Bull Score Index is a composite map aggregating several key indicators related to liquidity, demand, activity, and… pic.twitter.com/NlhSDRdjtT
— Darkfost (@Darkfost_Coc) May 2, 2026
Three on-chain factors are supporting the bull index. While there is some demand in the market it’s still not strong enough to have any impact on Bitcoin. Second, many Bitcoin investors still have unrealized loss. Combining low demand with large unrealized losses reduces further the probability of significant upward pressure on prices. The reason for this is that investors are more compelled to sell their position than to increase or maintain it.
This dynamic can also be characterized by the fact that too few investors hold while they accumulate profits. It is important to keep an eye on this metric, because healthy bullish markets tend to be characterized by widespread profits among investors. There is a greater confidence among investors to maintain their Bitcoin positions and conduct more transactions in the name of Bitcoin.
Bitcoin to resume bull run?
Darkfost says that Bitcoin’s structure is transitioning to a more bullish one. Even if that were to occur, Darkfost notes that it is still too early to conclude that the new bullish cycle has started. Analysts suggest that to be safe, such actions should be viewed as recoveries within an overall corrective cycle. Bitcoin was trading at $78,828 as of the time of publication. CoinMarketCap data shows that the leading cryptocurrency in the world is currently up by 0.86%.
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Source: www.newsbtc.com
