Bitcoin Market Cycle Indicator Flips Green Ahead of April CPI Print

The CryptoQuant Bull-Bear Market Cycle Indicator has flipped from bear territory to green, marking a significant shift in the cryptocurrency market. This move comes after a two-year drought and has historically preceded recoveries from deep corrections.

Similar instances of the indicator turning green occurred in 2019 and early 2023, both of which led to sustained recoveries after substantial drawdowns. In these cases, long stretches of subdued price action were followed by rising on-chain conviction among long-term holders.

The indicator's 30-day moving average also points to improving momentum beneath the surface. Bitcoin's current price of around $80,655 is a roughly 13% gain over the past 30 days, despite a 0.6% decrease on the day.