Bitcoin Price Action Suggests Bear Market Coming to an End

Bitcoin's price action has been stagnant at around $77,290 over the past day, down 2.2% from the previous 24 hours.

This lack of excitement may seem dull to some, but analysts are taking note as it could be a sign that the bear market is coming to an end.

Market analyst Will Clemente estimates that there's a 70-75% chance that this is the bottom of the cycle, citing on-chain data and a drawdown structure similar to prior cycle lows.

The $76,000-$76,350 zone has seen repeated buyer defense from active investors, with each retest attracting fresh demand, according to Bitfinex on-chain data.