Bitcoin profitability data has produced a market-reversal signal that previously appeared at the beginning of the cryptocurrency’s 2023 recovery, according to Cointelegraph. The indicator is now being cited by the CryptoQuant CEO as evidence that Bitcoin’s bear market may have ended. The comparison links the latest profitability trend with a turning point observed in early 2023, when market conditions began to improve. The signal does not provide a price target or specify the timing of future moves, but it offers a historical reference for assessing Bitcoin’s current market phase. Investors tracking BTC may therefore focus on whether the profitability measure continues to support the recovery pattern identified in the data. The development is specific to Bitcoin and does not by itself establish a similar outlook for other crypto assets.
Source
Cointelegraph
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