Bitcoin Onchain Signal Says Worst of Bear Market May Be Over

CryptoQuant data on July 18 indicates the Bitcoin bear market may be ending, as the short-term holder cost basis ($69,000) has fallen below long-term holders’ for the first time in nine months. Analysts note this crossover typically signals the final bear-market phase, though it does not confirm a price bottom or bull-market start. Bitcoin’s recent buyers have accumulated at lower levels, potentially setting the stage for a sentiment shift.