A trend gauge indicates cooling momentum after Bitcoin’s rally left it about 10 points shy of a perfect score.
Bitcoin rose 0.4% to just over $83,300 during Wednesday’s Asian session, down from an eight‑month high near $87,400.
CryptoQuant, an on‑chain analytics firm, assigns a Bull Score of 90 out of 100. The metric combines on‑chain and market indicators, and it surged after Bitcoin broke above its 365‑day moving average last week, which the firm views as confirmation of a bull market.
The buying pressure behind that rally is waning. CryptoQuant estimates that spot demand has decreased by roughly 170,000 BTC over the past 30 days.
Solana (SOL) and Zcash (ZEC) led the major coins, each rising nearly 2% to around $119 and just above $1,400, respectively. XRP added about 1% to just under $1.50, while Ethereum (ether), BNB, and TRX each posted gains of less than 1%, according to CoinDesk.
Speculative futures demand is cooling rapidly, falling from roughly 164,000 BTC on September 14 to 16,000 BTC by September 29—a 90% decline over 15 days.
