CryptoQuant’s metric turns green for the first time since March 2023, suggesting a potential recovery from bear-market conditions.
Bitcoin’s onchain cycle indicator has shifted to green, marking its first signal of an early bull market since March 2023. Analysts describe the move as a regime-change indicator, reflecting a possible recovery in market structure after prolonged bearish conditions.
The metric, which previously signaled bear-market behavior, now suggests the worst of the correction may be over. However, experts caution that sustained demand and a break above $82,000 resistance are needed to confirm the trend. Historical patterns show similar shifts often precede broader market recoveries.
Some market participants, including Arthur Hayes, argue bitcoin’s bottom near $60,000 is in place, with potential upside toward $90,000 or $126,000. Others emphasize the indicator serves as a behavioral guide rather than a precise trading tool.