Bitcoin Bear Market Officially Ends, Say CryptoExperts
CryptoQuant CEO Ki Young Ju claims that Bitcoin's bear market has effectively ended. According to Ju, the recent recovery in Bitcoin is a sign of strength and resilience, suggesting that the bottom has been reached.
The price of BTC climbed above $79,000, up approximately 23% since August 19th. This surge is largely attributed to the liquidation of short positions and increased demand in spot markets.
Analyst Jack Yi from LD Capital agrees that the bear market has ended. Yi points out that BTC has crossed above key moving averages on both daily and weekly charts, indicating a shift towards a bull trend.