Analyst: Bullish signals have appeared in the bear and bull market cycle indicators for the first time in weeks.

ChainCatcher message, CryptoQuant analyst Burak Kesmeci stated that since February 24, 2024, CryptoQuant’s bull and 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, this 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 occurrence of a positive turn is itself a positive sign. More importantly, the 30-day moving average (30DMA) of the bull and bear has begun to rise. If this indicator crosses above the 365-day moving average (365DMA), history suggests that Bitcoin may once again experience a parabolic rally.