Is Bitcoin Out of Its Bear Market? These Analysts Think So

Bitcoin is out of its bear market. But expect a possible pullback. 

That’s according to analysts at crypto research firm CryptoQuant, who say the coin is behaving like it has done in the past. CryptoQuant founder, Ki Young Ju, wrote on X Tuesday that the asset had “entered into the early bull phase.”

Ju Pointed to movements bitcoin made in its last cycle before entering a bull market, and said the coin was currently doing the same thing. 

CryptoQuant research shows that bitcoin flows to derivative exchanges have started again, confirming that traders have entered “risk-on” mode, which “has marked the start of a new bull cycle” in the past. 

And another analyst at the firm, Theophiluspep, wrote that while the coin was entering a bull market, “spot demand, ETF flows, and market momentum have turned decisively bullish, but elevated profit-taking, exchange inflows, and overbought conditions suggest a potential near-term cooldown.”

He added: “This looks increasingly like a genuine regime shift into the early phase of a new bull market, driven more by improving spot demand and institutional ETF buying than by excessive leverage.”

Bitcoin started surging last week. It is currently up 22% over a seven-day period and was recently priced at $78,716. It briefly touched $81,160 on Monday.