Bitcoin’s Bull Score Is Miffed – And the Market’s Sweating Bullets! 🐂💥

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Picture, if you will, the Bitcoin Bull Score-a sort of cryptic cocktail stirred with MVRV Z-Score, cycle indicators, and trader profit margins-deciding to plummet to a dismal 20. Historically, such a number is the market equivalent of a damp squib at a fireside chat: decidedly bearish, and about as welcome as Aunt Agatha’s unsolicited advice.

Now, despite Bitcoin swaggering about at a rather lofty $113,000, just teetering above crucial support lines like a tipsy butler at a posh do, it’s clear the momentum has more cracks than a dodgy soufflé.

On-Chain Metrics: The Party Poopers Have Arrived

Our dear analyst on X, JA_Maartun, popped up on August 28 to note this bearish blip with all the cheer of a cat at a rocking chair convention. “Something to take seriously,” he said, as if announcing the cucumber slice shortage at the club.

He warned that a score of 20 is bearish-meaning the good times fueling this bull run might be packing their bags. Echoing this gloom, the estimable Axel Adler Jr. chimed in, describing the market as “soft bearish,” balanced precariously on the edge, like Jeeves holding a full tray on a wobbly table.

Soft bearishness, for the uninitiated, means the market might still perk up if someone waves enough positive derivatives flows its way. If not? Well, brace yourself for a series of technical bounces that are about as exciting as watching paint dry on a blockchain.

Further whispers from Glassnode hint at a support zone between $107,000 and $108,900-a psychological rabbit hole if ever there was one. Slip below, and we might be looking at a nosedive down to $93,000. Ouch.

This dour forecast clashes head-on with some optimistic cycle theorists, like our chirpy friend Cryptobirb, who insists the bull run is 93% cooked and aiming for a grand finale between late 2025’s October and November.

But not everyone’s buying tickets for that show. There’s talk this old four-year cycle is on its last legs, with money no longer doing the usual merry-go-round from Bitcoin to Ethereum to altcoins. Instead, it’s hosting “isolated mini-cycles,” which sounds rather like a cryptic crossword clue but basically means the old rules have gone to the dogs.

As if that weren’t enough, the Taker Buy/Sell Ratio’s 30-day moving average just pulled a seven-year low-falling below 0.98, suggesting sellers are throwing more weight around than a butler with a vendetta. Historically, this tends to precede rather unpleasant price tumbles.

The Price Action Saga

On the bright side (or as bright as a cloudy London day), BTC has managed a modest 2.14% hobble upwards in the past 24 hours, nudging it to $113,094. Yet, don’t pop the champagne just yet. Over the week, it’s actually dipped less than 1%, but cast your gaze back across the fortnight and the past month, and things look shakier than Bertie Wooster on a pogo stick-down 8.2% and almost 5% respectively.

Currently lounging 9.1% below its peak glamour shot of $124,457, and flitting between $109,214 and $117,016 over the past week, Bitcoin seems rather like a gentleman searching for his hat in a gale: uncertain, flustered, and prone to sudden gusts of whimsy.

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2025-08-28 13:08