CryptoQuant: Multiple Bitcoin Metrics Turn Bearish, Market at Critical Juncture Between Local Bottoming and Deeper Correction

Nov. 10 — According to CryptoQuant's latest report, Bitcoin fell 9% over the past 30 days and is down 15% from its September peak. The bull market score index plunged from 90 to 20, entering an extremely bearish range; 30-day apparent demand contracted by 284,000 BTC, USDT market capitalization declined by $6.6 billion over 60 days, and traders' unrealized return rate dropped to -6%. Bitcoin has fallen below its 365-day moving average of $76,400, with $73,200 as its key support. The report expects the market may bottom out in the $70,000–$76,000 range over the coming weeks, though this is not yet confirmed; a break below key support could trigger a deeper correction.