【Analysis: Bitcoin Bullish Signal Reappears, New Highs May Be Ahead】According to Golden Finance, Matrixport analysis indicates that the Bitcoin market capitalization to realized market capitalization ratio has re-entered the bullish zone in the bull-bear market indicator. This reversal of on-chain data is usually quite rare and typically occurs within a few weeks. A similar situation occurred in 2020, which was considered a slowdown in the mid-cycle. Analysts point out that the positive changes in the current indicator may suggest that Bitcoin is likely to reach new historical highs. Although technical analysis and market outlooks often lead on-chain data, the appearance of confirmation indicators still holds significant reference value. If this indicator can maintain positive momentum, Bitcoin prices may further break through.