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Key Bitcoin market indicators continue to point to strength, but a sustained recovery in spot buying remains the main outstanding variable, on-chain analyst Darkfost said on X.
Darkfost said the Bull Score Index, a gauge of market strength, currently stands at 80 out of 100 and remains in bullish territory. Multiple indicators are supporting BTC’s upward trend, Darkfost said, but spot-market trading volume and buying demand have not yet increased enough. Darkfost added that the final element needed to complete Bitcoin’s bullish trend is a recovery in spot demand, with any increase in spot volume and real buying pressure likely to be a key variable for judging the market’s next move.