Analysts have noted an important change in the Bitcoin market: according to the CryptoQuant platform, the Bull-Bear Cycle indicator has entered the green zone for the first time since March 2023. This signals a possible beginning of the early phase of a bull market for the leading cryptocurrency.
This is reported by Finway
Indicator Indicates End of Decline
Experts point out that the indicator has exited the bear zone, which has historically been associated with the end of deep correction periods and the strengthening of market structure. A similar situation was observed in 2019 and early 2023, when the transition into the green area of the indicator preceded powerful phases of Bitcoin growth.
However, experts warn that this signal should not be viewed as a guarantee of sustained upward movement. For example, in March 2022, after the indicator entered the bull zone, there was only a short-term rise, followed by a pullback and a continuation of the downward trend.
Current Situation and Risks
CryptoQuant analysts emphasize the ambiguity of the current signal. The market shows signs of fatigue across several key metrics, even despite some recovery in momentum and the 30-day moving average.
The further movement of Bitcoin’s price, experts underline, will depend on whether sufficient demand remains to support growth:
“The probability slightly leans towards this being a local maximum rather than the start of a new bull market — unless the price continues to rise and confirms the movement,” stated CryptoQuant.
Previously, experts identified the $93,000 level as a key target for Bitcoin, linking it to the so-called CME gap.