PANews April 23 news, according to CoinDesk, CryptoQuant's Bitcoin Bull Market Score Index has risen to a neutral level of 50 for the first time since Bitcoin fell from its high of $126,000, signaling a possible shift from a bear market to neutral. This index combines ten on-chain indicators, with current bullish and bearish signals each accounting for half. CryptoQuant's research director Julio Moreno pointed out that this is the first time the index has entered neutral territory in this bear market. However, history warns: in March 2022, the index also rose to 50, after which Bitcoin's price was halved from about $48,000 to below $20,000. QCP Capital indicates that the current derivatives market positioning still points to range volatility rather than sustained breakthroughs, with front-end volatility being sluggish and skew still leaning towards bearish protection.

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