TREE NEWS update: CryptoQuant CEO Ki Young Ju says Bitcoin’s profitability data has flashed a bear-market reversal signal last seen in early 2023, suggesting the current downtrend may be ending. The metric indicates that the bear market is likely over, with recovery patterns mirroring the 2023 rebound.
Bitcoin bear market ‘over’ as metric copies 2023 recovery
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AI take
The signal from profitability data, which previously marked a turning point in 2023, adds a technical layer to the debate over whether the current drawdown has run its course. For market participants, the relevance lies in the metric's historical track record as a potential bottom indicator. The key question is whether the current macro environment—different in liquidity and regulatory terms—will allow a similar trajectory to unfold. Watching whether on-chain profitability continues to improve across wallet cohorts will be the near-term tell.
Generated by AI for reference only.
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