Bitcoin’s bull score hit its highest level in six months, but a warning emerged that a drop could resume after a short-term rebound, as in the 2022 bear market.

On April 22, Cointelegraph reported that CryptoQuant’s Bitcoin Bull Score Index recently entered the neutral zone as bitcoin rose to $78,000. The index sums 9 price indicators to show the market’s overall direction. The latest reading was presented as the highest level since October 2025.

Julio Moreno (훌리오 모레노), a contributor to CryptoQuant, said in a post on X that the bull score index entered the neutral level of 50 for the first time in this bear market phase. It can be seen as a sign that downward price pressure has eased somewhat, but Moreno did not interpret it as an immediate trend reversal. He noted that in March 2022 the bull score entered the neutral zone for about a week before prices fell again.

That has shifted the market’s next focus to whether the index can improve further by April’s monthly close. Another point to watch is whether the bitcoin-dollar pair can break out of a months-long range.

A market sentiment gauge also pointed in the same direction. The Crypto Fear and Greed Index stood at 32 out of 100 as of April 22. It remained in the fear zone, but rose to the least negative level since mid-January. The index is a lagging indicator reflecting investor sentiment, and its reading has nearly tripled over a little more than the past week.

A simultaneous recovery in price and sentiment indicators suggests overall pressure in the market has eased somewhat. The bull score index, however, has not yet entered a strong optimism zone, and the Fear and Greed Index has only neared the neutral zone without leaving fear, it said.

As a result, key variables are expected to be whether bitcoin breaks out of its range at April’s close and whether the bull score index climbs further above neutral, rather than treating a short-term rebound as a signal the bear market has ended. The indicators currently show early signs of recovery, not confirmation of a strong uptrend, which is keeping market caution in place.