CryptoQuant has observed a spectacular reversal in analyst sentiment toward bitcoin since July, with the 30-day Analyst Consensus Index rising from -18.3 to +49.2. The proportion of bullish analysts jumped from under 40% to nearly 85%, with 137 out of 164 voters. This bullish move is deeper, faster, and broader than the one seen between late 2022 and early 2023, when the index climbed 36 points over 103 days versus 67 points this time, for a BTC rally of only 33% versus 65% previously. Ethereum and Solana now show the strongest readings with respective indices of +58.3 and +72, while XRP experienced a notable recovery after hitting $0.99 mid-August.
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