TechFlow News, March 6: According to The Block, Julio Moreno, Head of Research at CryptoQuant, stated that Bitcoin’s recent rebound above $73,000 may be only a short-term “temporary bounce,” rather than the start of a new bull cycle. Although selling pressure has eased since early February and U.S. investor demand has strengthened, macroeconomic and on-chain indicators still point to a bearish environment. CryptoQuant’s Bitcoin Bull Market Index remains at just 10 out of 100, indicating that fundamentals and technical indicators associated with bull cycles have yet to recover. If Bitcoin continues its upward movement, the next key resistance levels may emerge near $79,000 and $90,000.
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