Analysis: BTC flashing bullish signals across three key market areas

Bullish signals for BTC are emerging simultaneously across on-chain data, the futures market, and the options market, CoinDesk reported. Citing Glassnode, the report notes that BTC has surpassed both its True Market Mean, an indicator of the average investor cost basis, and the average purchase price for short-term holders. This is considered a sign of a transition to a bull market, with the next major resistance level at $85,200. In the futures market, the funding rate has turned positive after being negative for several months, raising the possibility of a large-scale liquidation of short positions. Additionally, in the options market, market makers are in a short gamma state around the $82,000 mark. This condition could accelerate an upward price move, as a rally would prompt further buying from these market makers for hedging purposes.