CryptoQuant analyst: Bull-bear market cycle indicator shows bullish signal for the first time in weeks

CoinRank News: CryptoQuant analyst Burak Kesmeci said that CryptoQuants bull-bear market cycle indicator has continued to send bear market signals since February 24, 2024. However, in recent days, the indicator has begun to show signs of a potential trend reversal. With Bitcoin back above $100,000, the indicator has shown a bullish signal again for the first time in weeks. Although this signal is still relatively weak (the coefficient is 0.029), the positive turn itself is a positive sign. More importantly, the bull-bear 30-day moving average (30DMA) has started to move upward. If the indicator crosses the bull-bear 365-day moving average (365DMA), history shows that Bitcoin may usher in a parabolic rise again.