According to Odaily Planet Daily, CryptoQuant analyst Burak Kesmeci stated that since February 24, 2024, the bull-bear market cycle indicator has continuously issued bearish signals. In recent days, this indicator has shown potential signs of trend reversal.
With Bitcoin returning above $100,000, this indicator has shown a bullish signal for the first time in weeks, although the signal is relatively weak (coefficient of 0.029), the positive shift itself is a positive sign. The bull-bear 30-day moving average has started to trend upwards.
If this indicator crosses above the bull-bear 365-day moving average, history shows that Bitcoin may once again experience a parabolic rise.
