Analyst: Bullish signals have appeared in the market cycle indicators for the first time in weeks
ChainCatcher news, CryptoQuant analyst Burak Kesmeci stated that since February 24, 2024, CryptoQuant's bull-bear market cycle indicator has consistently issued bear market signals. However, in recent days, the indicator has begun to show signs of a potential trend reversal.
As Bitcoin returns above $100,000, the indicator has shown a bullish signal for the first time in weeks. Although this signal is still relatively weak (with a coefficient of 0.029), the mere appearance of a positive turn is itself a positive sign.
More importantly, the bull-bear 30-day moving average (30DMA) has started to trend upwards. If this indicator crosses above the bull-bear 365-day moving average (365DMA), history suggests that Bitcoin may once again experience a parabolic rise.
