Bitcoin (BTC) traded 15% below its September high after its bull-market score dropped to 20, with the reading classified as extremely bearish amid declines in apparent demand and stablecoin capitalization.
The score had previously stood at 90. Bitcoin fell 9% over 30 days and moved below its 365-day moving average, which the report put at $76,400. Apparent demand was down 284,000 BTC over the same period.
USDT market capitalization fell by $6.6 billion over 60 days. The unrealized-profit measure for traders fell, reaching -6%. Bitcoin’s 9% decline and the apparent-demand figure cover 30 days; the USDT capitalization figure covers 60 days.
EconoTimes previously reported a monthlong decline in total stablecoin market capitalization. That earlier figure covered the stablecoin market as a whole; the current figure concerns USDT.
