Coinbase News: Bitcoin Bull Score Index Hits 2-Year Low, Indicating Potential Extended Bearish Trend

Recent developments in the cryptocurrency market have sparked concerns among investors, with the Bitcoin bull score index (BBSI) dropping to its lowest level in two years. Here’s a closer look at what’s happening and what it means for the future of Bitcoin and other cryptocurrencies.

Bitcoin Bull Score Index Drops to 2-Year Low

The Bitcoin bull score index (BBSI) has dropped to its lowest level since January 2023, standing at 20. This indicates weak market momentum, and Bitcoin lost 23% in Q1 2025, dropping from $109k to $84k. CryptoQuant analysts project that this could mean a likely longer bearish trend. April’s U.S. tariffs and earnings reports are factors to watch out for. The index ranges from 0 to 100 and tracks bullish signs like network activity.

Deribit Acquisition Talks In Progress: Coinbase Eyes Derivatives Market

Coinbase Global, the largest cryptocurrency exchange in the United States, is reportedly in advanced negotiations to acquire Deribit, a Netherlands-based derivatives startup. If finalized, this deal could become one of the largest acquisitions in the industry to date, with estimates valuing Deribit between $4 billion and $5 billion. Deribit, founded approximately a decade ago, has established itself as a platform for trading cryptocurrency derivatives, particularly options and futures contracts. Options give traders the right to buy or sell a virtual asset at a predetermined price by a specific date, while futures contracts obligate parties to buy or sell an asset at a set price at a future date. Deribit is noted for processing significant volumes of Bitcoin (BTC) transactions.