Bitcoin (BTC) worth metrics are exhibiting aid this month, however the danger of repeating the 2022 bear market stays.
Key factors:
Bitcoin’s Bull Rating Index mixed worth metric reaches its highest ranges since October final yr.
The aid could also be short-lived, evaluation warns, pointing to the 2022 bear market.
Crypto sentiment reaches its most bullish since January, per the Crypto Worry & Greed Index.
Bitcoin Bull Rating Index ditches “bearish” zone
New information from onchain analytics platform CryptoQuant place the highlight on the Bitcoin Bull Rating Index (BSI).
Bitcoin has lastly entered “impartial” territory with its push to $78,000, the most recent BSI information confirms, with the Index climbing to its highest since October 2025.
BSI incorporates 9 worth metrics to provide an general impression of efficiency. For the reason that bear market started, it has been sharply bearish — simply as within the early phases of the earlier bear market 4 years in the past.
“First time on this bear market that the Bull Rating Index enters impartial zone (50),” CryptoQuant contributor Julio Moreno famous in an X post on Wednesday.
Moreno cautioned that regardless of the stress being off for now, BSI additionally had a short cooling-off interval earlier than the 2022 bear market continued.
“In March 2022, the Bull Rating entered impartial territory for a couple of week, after which the worth resumed its decline,” he added.
Ought to historical past repeat, consideration might be on the Index’s efficiency into the April month-to-month shut, as BTC/USD makes an attempt to break out of a multi-month range.
Inspecting BSI readings final week, with worth round $74,000, CryptoQuant contributor Arab Chain described a “steadiness between provide and demand forces.”
“However, the present BSI studying exhibits that the market continues to be removed from the realm of robust optimism (above 60), which generally signifies robust bullish situations, whereas additionally remaining above the zone of maximum pessimism (clearly beneath 40),” they wrote in a “QuickTake” weblog put up.
“This locations the market in a transitional section, as buyers await new catalysts to find out the following route.”
Sentiment edges to most bullish since January
Different indicators of a broader market restoration come from crypto dealer sentiment.
Associated: BTC price due new highs: Five things to know in Bitcoin this week
🚨 UPDATE: Crypto Worry & Greed Index sits at 32 (Worry) at present, a notable restoration from Excessive Worry at 23 final week. pic.twitter.com/lmjfjh0Ui3
— Cointelegraph (@Cointelegraph) April 22, 2026
In accordance with the Crypto Fear & Greed Indexa basic lagging indicator that makes use of a basket of things to replicate the temper amongst buyers, situations are at their least unfavorable since mid-January.
Worry & Greed measured 32/100 on Wednesday — nonetheless inside its “worry” zone whereas like BSI additionally approaching the “impartial” bracket.
The Index worth has practically tripled in somewhat over per week.
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