Pattern tied to end of BTC downturn appears, analyst says

A CoinNess analysis found a pattern associated with the end of a Bitcoin down cycle in an indicator that tracks the share of BTC in profit and at a loss based on on-chain acquisition prices. Crypto analyst Crypto Dan said the later stage of a down cycle tends to show the shares of profit-taking and loss-making holdings crossing over as the gap between the two narrows. When the market then shifts into an up cycle, the share of profitable holdings rises while the share of loss-making holdings falls, causing the two indicators to diverge again on the chart, Crypto Dan said. According to the analyst, that pattern is now appearing, and if the trend continues and confirms a shift into an up cycle, it would mark a repeat of the four-year cycle. Crypto Dan added, "the signal flare for a crypto bull market has been fired."