business
Bitcoin’s bull-bear cycle indicator turns green for first time since March 2023
Key takeaways
- He said that, “historically, it has been most useful for identifying when bitcoin stops behaving like a bear-market asset.”
- Greenspan said that the real confirmation comes afterward, with sustained demand, liquidity, and price acceptance at higher levels. “So now all eyes are on price action to confirm validation,” he added.
- Back then, the indicator turned bullish but delivered a false positive, preceding a move into a deeper downtrend.
He said that, “historically, it has been most useful for identifying when bitcoin stops behaving like a bear-market asset.”
Greenspan said that the real confirmation comes afterward, with sustained demand, liquidity, and price acceptance at higher levels. “So now all eyes are on price action to confirm validation,” he added.
He recalled that when this indicator turned green in 2019 and again in early 2023 following intense bearish phases, the market transitioned into “stronger bullish trends.” Moreno, however, acknowledged that March 2022 remains a critical exception. Back then, the indicator turned bullish but delivered a false positive, preceding a move into a deeper downtrend.
Article preview — originally published by CoinDesk. Full story at the source.
Read full story on CoinDesk →
More top stories
Also covered by
Aggregated and edited by the Scoop newsroom. We surface news from CoinDesk alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop