Bitcoin retreated to around $62,000 after climbing back from last week's low of $57,700, tempering a short-lived rebound. Analytics firm CryptoQuant argues that several indicators point to further potential gains, citing improving demand, favorable seasonality and supportive valuation metrics. However, the firm cautions that its Bull Score Index remains in bearish territory, indicating the current price action is more likely a recovery within a broader bear market than the start of a sustained uptrend. The distinction matters for traders weighing whether recent strength signals a durable reversal or a temporary bounce. Bitcoin's move reflects ongoing uncertainty in the market, with buyers stepping in near recent lows but momentum still lacking the conviction typically associated with a confirmed trend change. CryptoQuant's mixed signals underscore the tension between constructive fundamentals and cautious market sentiment.
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