CryptoQuant CEO Ki Young Ju says Bitcoin’s 2026 bear market may be over after a key onchain indicator turned bullish for the first time since October 2025.
CryptoQuant’s Bull/Bear Market Cycle Indicator rose to 0.042 as of Aug. 26, moving into bullish territory after falling as low as -1.244 when Bitcoin dropped to around $60,000 in February.
The indicator combines several profitability metrics, including MVRV, NUPL and SOPR, and compares them with a 365-day moving average. Positive readings historically indicate improving investor profitability and the potential start of a bullish market phase.
Ki noted that a similar shift from negative to positive territory occurred during Bitcoin’s recovery in early 2023, when the previous bear market ended.
However, analysts remain divided over whether Bitcoin has entered a sustained bull market. Concerns persist about insufficient demand and significant resistance above current prices, while trader Rekt Capital said Bitcoin’s August monthly close will be critical in determining whether the long-term downtrend has truly been broken. $BTC
CryptoQuant’s Bull/Bear Market Cycle Indicator rose to 0.042 as of Aug. 26, moving into bullish territory after falling as low as -1.244 when Bitcoin dropped to around $60,000 in February.
The indicator combines several profitability metrics, including MVRV, NUPL and SOPR, and compares them with a 365-day moving average. Positive readings historically indicate improving investor profitability and the potential start of a bullish market phase.
Ki noted that a similar shift from negative to positive territory occurred during Bitcoin’s recovery in early 2023, when the previous bear market ended.
However, analysts remain divided over whether Bitcoin has entered a sustained bull market. Concerns persist about insufficient demand and significant resistance above current prices, while trader Rekt Capital said Bitcoin’s August monthly close will be critical in determining whether the long-term downtrend has truly been broken. $BTC
