CryptoQuant Analyst Says Bitcoin Market Shifted to Bullish for Second Week

CryptoQuant analyst Axel Adler Jr. said Bitcoin market conditions have shifted from bearish to bullish and have remained that way for a second week. According to PANews, a model combining multiple market data points showed Bitcoin’s state score rebounding from a low of -42.9 on June 26 to +34.7. The score stayed in positive territory for more than 80% of the past week and reached an interim high of +65.3 on July 10, indicating that the market moved from seller-dominated conditions to a stronger buyer side. The model’s sub-indicators are currently 79.4% aligned in the same direction, above the monthly average of 57.3%, suggesting there is no clear contradiction among the data points and that the bullish signal is not noise.