TrueUSD’s market cap has been rising, which has historically been followed by a rise in BTC prices. The indicator also suggests that the market may be bottoming.

  • Bitcoin’s NVT signal hit a one-month low on August 25.

  • The king currency’s foreign exchange reserves fell, other indicators also turned bullish.

Bitcoin [BTC] price has stabilized around the $26,000 mark after the last price correction on August 16. Although some investors remain pessimistic about the market conditions, Bitcoin may be planning to quietly exit the current price trend.

We may be at the bottom of the market

According to CoinMarketCap, BTC’s price has fallen by more than 1.5% in the past 24 hours. At press time, it is trading at $26,090.91 with a market cap of more than $507 billion.

However, the bearish price trend may soon come to an end. Tedtalksmarco, a popular cryptocurrency influencer, recently posted a tweet highlighting an interesting development.

According to the tweet, TrueUSD’s [TUSD] market cap has been increasing recently. This is happening while the market cap charts for most other stablecoins remain relatively flat. Historically, whenever TUSD’s market cap rises, BTC’s price also rises.

Such events occurred earlier this year in January, March and July, giving hope for a price hike this time around.

Additionally, data from Glassnode shows that BTC’s NVT signal just hit a 1-month low of 1,292.206. A lower NVT signal suggests that investors are pricing Bitcoin at a discount.

Furthermore, low NVT signals that the market may have bottomed, indicating that now is the best time to accumulate Bitcoin. In fact, whales have already started accumulating, suggesting that they expect the coin’s price to surge in the coming days.

Recently, addresses holding between 10 and 10,000 BTC have added approximately 11,629 Bitcoins to the existing supply since the August 17 crash.

Bitcoin bull run is coming

Not only the above updates, several other indicators also support the possibility of price increases. For example, BTC's exchange reserves are decreasing. BTC's aSORP is also green.

This means that more investors are selling at a loss. However, in the middle of a bear market, it could signal that the market has bottomed.

Another bullish indicator is that Bitcoin’s B-grade CDD is green, indicating that long-term holders have made below-average moves over the past seven days. Additionally, Bitcoin’s open interest has declined, according to Coinglass data, increasing the likelihood of an imminent trend reversal.