Bitcoin Bull Market Index Shifts to Neutral Phase

According to BlockBeats, CryptoQuant's Head of Research, Julio Moreno, has indicated that the Bitcoin Bull Market Index has transitioned from a 'bullish cooling' phase to a 'neutral' phase, with the index dropping from 70 to 50. Moreno noted that if the index continues to weaken, it could suggest a potential further decline in Bitcoin prices, emphasizing the importance of risk management in such scenarios.