As Bitcoin continues to show mixed price action, the leading crypto asset has just issued a signal that has appeared before near the end of a bear market.
On Saturday, July 18, crypto analysis platform CryptoQuant shared on-chain data This suggests that the current market slump may be entering its final stage.
Bitcoin bear season is coming to an end
The analyst shared a graph that reveals the cost basis of the wallets of short-term holders who have held Bitcoin for less than six months and the wallets of long-term holders who have held Bitcoin assets for more than six months.
The analyst noted that coins that have remained untouched for more than seven years are excluded from the LTH cost criteria to better reflect active long-term investors.
Bitcoin has maintained a consistent downward trajectory over the past nine months, with data showing that the cost basis of short-term holders is lower than that of long-term holders.
According to market analysts, these conditions are widely considered to signal the end of the bear market.
Bitcoin at the lowest level?
Traders are primarily interested in whether Bitcoin has reached a bottom yet, but it is important to note that the crossover of STH and LTH cost metrics does not mean that Bitcoin has already found a bottom or that a new bull market has begun.
Rather, on-chain indicators suggest that the market may be entering the final stage of the current bearish cycle.
Notably, Bitcoin’s short-term holder cost standard has dropped from $112,500 to approximately $69,000. This means recent buyers are continuing to buy. Bitcoin This is an asset whose price may decline throughout a recession and market sentiment may reverse.
