CryptoQuant’s bitcoin bull-bear cycle indicator turns green for the first time since March 2023
Crypto Briefing
CryptoQuant’s Bitcoin indicator has turned green for the first time since March 2023, signaling a potential early bull market phase.Summary
CryptoQuant’s Bitcoin Bull-Bear Market Cycle Indicator has signaled an “early bull” market for the first time since March 2023. Triggered on May 12, 2026, the shift follows a 35% recovery from February lows of $60,000, although Bitcoin continues to face resistance in the $80,000 to $82,000 range. The indicator, which relies on the P&L Index and a 365-day moving average, previously preceded a 17-month rally to a record high of $108,000 in October 2025. Despite the optimism, analysts remain cautious due to historical precedents where macroeconomic headwinds invalidated similar signals.
(Source：Crypto Briefing)