CryptoQuant’s analyst consensus index fell from −1.0σ to −1.8σ over seven days, according to a BlockBeats report published on November 11, 2026, at 19:33 UTC+8. Bitcoin’s price moved back toward $73,000 over the same period. CryptoQuant classifies an index reading of −1.5σ or lower as markedly bearish.
The index gives each analyst one vote based on bullish or bearish Bitcoin views expressed on platforms including X, Seeking Alpha and Substack. It then compares the aggregate with its level over the preceding 90 days. A negative reading therefore means sentiment is more bearish relative to that recent baseline; it does not necessarily mean most analysts are bearish.
The report says 149 analysts had a clear position over the preceding seven days, with 88 bullish and 59 bearish. It also puts the bullish share at about 62%. Those figures do not reconcile: the stated bullish and bearish counts total 147, and 88 is not 62% of either 147 or 149. The reported direction of the index is distinct from that unresolved headcount discrepancy.
BlockBeats cited ETF outflows, inflation concerns and Nasdaq weakness as pressures on sentiment. The index measures analysts’ views—not Bitcoin’s fundamental value or a fair-value estimate.