CryptoQuant's Bitcoin (BTC) bull-bear cycle indicator turned green on May 12 for the first time since March 2023. Julio Moreno, CryptoQuant's on-chain market analyst, said the reading suggests the market structure may be starting to recover. He described it as an important regime-change signal while noting that past instances have not always led to sustained price gains.



Moreno said that when the indicator has previously moved out of bear territory and into the early bull zone, it has often marked the end of the worst phase of a correction. He pointed to green readings in 2019 and early 2023 as instances that preceded stronger bullish trends. He also flagged March 2022 as a key exception, when the indicator turned green but the market moved into a deeper downtrend shortly after#GateSquareMayTradingShare
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