Bitcoin wobbles after Fed hike as analysts clash on cycle direction

The latest Federal Reserve rate decision has pushed several on-chain gauges into cautionary territory. The Bull Score Index collapsed from 80 to 30 within a week, flipping into bearish mode and highlighting fading spot demand.

Crypto Dan counters that the share of losing UTXOs has dropped sharply, mirroring the pattern seen at the end of previous bear phases. He argues the move now carries enough momentum to shift the market into a new bull cycle.

Glassnode points out that price has slipped beneath both the multi-week range floor and the True Market Mean. Failure to reclaim this zone could open the door to a slide toward the short-term holder cost basis near $70,000.

Darkfost notes that short-term holders are seeing shrinking profits and that overall demand remains muted. While the rate hike and the stalled CLARITY Act bill may weigh on sentiment in the near term, most observers still see limited risk of a full return to a bear market.

Based on information from https://cryptonews.net