Ansem: The cryptocurrency market shows signs of bottoming out, but the start of a new bull market still awaits confirmation from on-chain data

Well-known crypto KOL Ansem posted that signs of a bottom forming are appearing in the crypto market. Firstly, prices are beginning to show resilience against negative news; for example, when Saylor sold millions of dollars in the range of $58,000 to $60,000, BTC continued to form higher lows. Secondly, crypto-native mobile applications are starting to see actual user growth, with Pump.fun's weekly revenue increasing by 20% and Fomo surpassing 100,000 users within a week; institutional interest is also rebounding, including progress from Robinhood Chain and billionaire Paul Tudor Jones publicly bullish on BTC. Additionally, the popularity of crypto-related content on social media is rising again.

Ansem stated that if on-chain tokens continue to create higher highs after the initial volume peaks, the number of holders of popular tokens continues to grow, mainstream media refocuses its reporting, developers experiment with new on-chain mechanisms, and successful protocols provide incentives through airdrops, it may further confirm that a new bull market has begun.