Fifth Bull Market Signal Confirmed in Bitcoin's Chart

A new signal has appeared in Bitcoin's chart, confirming that the market is in a bull trend. This is the fifth time this specific signal has occurred, according to an analysis by Cryptoquant contributor Darkfost.

The signal, known as a holder cost basis crossover, occurs when newer holders pay more for their coins than long-term holders. The comparison excludes dormant coins that have not moved in seven years or more.

Darkfost published his findings on X, noting that the change is 'a bit more credible' due to its fifth occurrence. He also highlighted a separate signal from July 11, which he interpreted as an indication of the market's recovery.

The latest ETF inflows have provided another sign of renewed demand in Bitcoin. Spot bitcoin ETFs drew $2.06 billion over three trading sessions, with each session bringing net inflows, although the daily amounts declined.