CryptoQuant CEO Declares Bitcoin Bear Market Over as Profitability Metrics Turn Bullish

CryptoQuant CEO Ki Young Ju announced that Bitcoin's bear market may be ending as the Bull/Bear Market Cycle Indicator turned positive for the first time since early October 2025.

The indicator, which is based on CryptoQuant's P&L Index and its distance from a 365-day moving average, aggregates several profitability metrics to capture broader shifts in investor behavior rather than short-term price swings.

According to CryptoQuant data, the indicator hit an 'extreme bear' reading of -1.244 on February 5, 2026, before turning positive again with a value of 0.042 by August 26.

Past performance suggests that the metric can help confirm major trend transitions, including a similar bear-to-bull transition in early 2023.