CryptoQuant’s Bull Score Index plummeted from 80 to 30 in just one week, moving into bearish territory. The Federal Reserve raised interest rates by 25 basis points on September 16, bringing the target range to 3.75%-4.00%, marking its first rate hike since 2023. Bitcoin is currently trading around $76,000, having shed roughly 4% over the past week. ETF outflows have replaced the inflows that supported prices during the summer rally. For a sustained bullish market to return, the Bull Score Index must climb back above 60 and Bitcoin’s price must exceed $83,000, a level that currently remains out of reach.
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