Bitcoin Bull-Bear Cycle Indicator Flashes Green Ahead of April CPI Print

CryptoQuant's Bull-Bear Market Cycle Indicator has signaled an early-bull reading for Bitcoin (BTC) for the first time in approximately 26 months, a shift historically associated with recoveries from significant corrections. This development occurs just before the release of the April Consumer Price Index (CPI) data, which could influence whether Bitcoin continues its upward trend or stalls. Similar indicator signals in 2019 and early 2023 preceded sustained recoveries. Bitcoin has also reclaimed the $78,000 zone, aligning with the True Market Mean and Short-Term Holder cost basis, a level that has historically separated bear and bull markets. However, some analysts caution that this signal might be a false positive, citing a similar instance in March 2022 where the indicator briefly turned green before a further downtrend. Concerns are also raised by other metrics showing exhaustion and an increase in BTC moving onto exchanges, which is contrary to typical accumulation patterns at cycle lows. The upcoming April CPI print will be a key catalyst, with a hotter-than-expected reading potentially pressuring risk assets, while a cooler print could reinforce the bullish sentiment. Traders are watching for confirmation above $82,000 and the True Market Mean.

(Source：BeInCrypto)