Bitcoin Bull Score Index bullish again for first time since October 2025

CryptoQuant’s Bitcoin Bull Score Index has entered bullish territory for the first time since October 2025. The index now stands at or above the 60 threshold, meaning six of the ten underlying indicators are positive. That is according to analyst Darkfost on X, who points to demand growth, stablecoin liquidity and the realised price of traders as indicators that are now turning green. Bitcoin traded at around $77.200 on Friday, up 8.3% in 24 hours.

Bitcoin is available at OKX and Bybit.

In brief:

• The Bitcoin Bull Score Index has again risen above 60, the threshold for bullish market conditions, for the first time since October 2025.
• Six of the ten indicators are positive, including demand growth, stablecoin liquidity and the realised price of traders.
• Even in May, when Bitcoin rose above $82.000, the index did not manage to reach the bullish threshold.

First bullish signal in months

CryptoQuant’s Bull Score Index combines multiple independent indicators to determine which market regime Bitcoin is in. A score of 60 or higher counts as bullish, a score of 40 or lower as bearish. The fact that the index now exceeds that threshold for the first time in almost a year stands out because the recovery previously failed to materialise despite a significant price move.

For example, Bitcoin previously broke through $76.000, but the Bull Score Index remained below the critical 60 threshold at the time. Even when the price rose above $82.000 in May, the indicator failed to return to bullish territory. That makes the current breakthrough notable.

What the indicators show

Darkfost explains that the index specifically looks at indicators that approach market sentiment from multiple angles. Demand growth indicates whether more buyers are active, stablecoin liquidity shows how much capital is ready to flow into the market, and the realised price of traders says something about the average entry price of active market participants.

During earlier bull markets, the Bull Score Index typically remained above 60 before a decline into bearish territory followed. Whether the index can now hold this level is the key question. Glassnode previously warned that the Bitcoin recovery might only be a local rally and not a structural trend reversal.

Possible start of a new cycle

According to Darkfost, a new bull cycle may have begun if the Bull Score Index remains at this level and rises further. He presents this as a possibility, not a certainty. The indicator provides a directional picture of the market regime, but offers no guarantee about the further price development.

The inflow into Bitcoin ETFs and the recent price rise towards $77.000 fit into the broader recovery picture. Whether the market will also take on the characteristics of a bull market in other areas will become clear in the coming weeks.