Bitcoin's Bear Market Resilience Tested by Brief Price Surge

A recent price surge in Bitcoin has raised hopes of an end to the bear market, but analysts are cautioning against getting too optimistic. According to data from CryptoQuant, US buying demand has picked up, with the Coinbase Bitcoin Premium reaching its highest point since October.

However, this increase in demand is not enough to overcome macro headwinds and soft economic signals. The Bull Score Index, a composite reading of technical and fundamental health, remains at historic lows, indicating that the bear market is far from over.