CryptoQuant: Bitcoin Enters Bull Market Cooling-off Period, Fed's September Meeting Rate Cut Could Be a New Catalyst
BlockBeats News, August 8th, Blockchain data analysis company CryptoQuant pointed out that after Bitcoin hit a historical high of $123,000 last month, it is showing signs of short-term consolidation or mild downward risk.
The company stated in a report released on Thursday: "Bitcoin has entered a bull market cooldown period, with the bullishness index dropping from 80 to 60. Although the overall environment is still positive, the upward momentum is weakening. CryptoQuant's bullishness index evaluates the Bitcoin market strength through multiple on-chain indicators, with a value close to 100 indicating strong buying pressure and bullish sentiment, while close to zero indicates heavy selling pressure."
CryptoQuant's analysis stated that the current index value of 60 is still in the bullish range, but the momentum continues to wane. The index retreat reflects profit-taking after hitting a historical high and also includes a seasonal slowdown in summer trading activity. The report specifically warned: "If the price weakens further, this indicator may fall into negative territory, causing the bullishness index to drop below 40 for the first time since April 2023—this would officially confirm the market's transition to a bear market."
CryptoQuant's Head of Research, Julio Moreno, added: "The Fed's rate cut in September could become a new catalyst, in line with the market's widespread expectations."
You may also like

The large models in the United States are moving towards closure in the name of security

Morning Report | CoinEx becomes a key hub for Iran to evade sanctions, involving over $3.8 billion in funds; Kalshi seeks a new round of financing, with a valuation potentially rising to $40 billion

From the white-haired stock god to the billionaire fund mogul, the smart people shorting Nvidia are all getting rich using the same framework

Why do cryptocurrency projects always like to change their names?

Global Launch: As predictions become the most scarce asset in the AI era, Manadia is defining the next generation of the value internet

Who is footing the bill for the $64 billion accounting frenzy?

I never expected that the first application of AI x Crypto would be in security auditing

What is your view on Binance's competitive advantages?

ETH has entered a non-consensus phase, and the turning point is approaching!

The shift in the cloud of the air: from despising stablecoins a year ago to the high-profile entry of capital today

The survival dilemma of small and medium exchanges behind the withdrawal anomalies exposed by AscendEX

Why Is Bitcoin Falling Below $60K? 5 Key Market Drivers Explained
Bitcoin has dropped sharply amid ETF outflows, Strategy stock weakness, AI stock rallies, and changing Fed expectations. Explore the key forces driving BTC’s latest correction and what traders should watch next.

Bitcoin vs. Gold in 2026: Which Asset Performs Better in Different Markets?

Morning News | The draft amendment to the People's Bank of China Law aims to clarify the legal status of digital renminbi; South Korea will transfer about 40 unregistered virtual asset service providers to law enforcement agencies

The cryptocurrency industry has entered the "Show Me" era: merely relying on vision is no longer enough

Interpreting the Ethereum Foundation's new structure: Reaffirming self-sovereignty amid institutional trends

Former SpaceX engineer reconstructs the financial execution system using first principles

