Bitcoin Yet to Trigger Key Bear Market Exit Signals
- Bitcoin is trading below the cost basis of short-term holders (STHs), which is currently around $81,000.
- Recent buyers are experiencing a net unrealized loss of over 14% as Bitcoin remains under this cost basis.
- Historically, bear markets end when Bitcoin’s price breaks above the STH cost basis and sees fresh buying from investors.
- The current price of Bitcoin has recovered to $69,500 after ending last week under $67,000.
Bitcoin’s inability to surpass the STH cost basis indicates that it has not yet triggered the traditional signals marking the end of a bear market. This situation suggests that patience may be required before seeing a shift in market trends.
Despite recent price recovery, Bitcoin remains far from breaking above the STH cost basis, which is crucial for signaling an end to the bear market phase. Source
