Bitcoin’s bullish momentum continues to show strength as key metrics indicate signs of fatigue after reaching an eight-month high.
The market has solidified its bullish status with a close above the 365-day moving average, as reported by CryptoQuant.
CryptoQuant’s Bitcoin Bull Score Index remains at an impressive 90/100, signaling an “extremely bullish” market sentiment.
However, there are indications of exhaustion in the market as traders’ on-chain unrealized profit margin has hit 33%, the highest level since December 2024, potentially leading to selling pressure.
Profit-taking has already commenced, with 25,700 BTC profits realized on September 22nd, marking the largest single-day total in 2026.
On the demand side, both spot demand and futures demand growth have shown signs of cooling off, suggesting a possible pullback in the market.
Despite these developments, support levels are well-defined below current prices, providing a safety net at key moving averages and traders’ realized price levels.
CryptoQuant emphasizes that as long as these support levels hold, the bull trend remains intact.
Looking at altcoins, exchange inflows of non-BTC coins have surged sharply, indicating potential distribution activities.
“The bull market is still intact, but there are signs of a cooling rally. While the Bitcoin Bull Score Index remains at 90/100, recent market signals suggest a possible pullback following the recent high of $87.4K.”
For more insights, refer to the source.
Follow us on X, Facebook, and Telegram for more updates.
Subscribe to get email alerts delivered directly to your inbox and stay updated on the latest market trends.
Generated Image: Midjourney
