The Bitcoin bear cycle is officially over, according to the CEO of CryptoQuant. He points to on-chain profitability data for BTC, which has now flashed a reversal signal similar to what we saw at the start of 2023—back then, the same metric marked the beginning of a market recovery.

Profitability Signal Mirrors Early 2023

We're talking about a profitability metric whose current trajectory matches the pattern from the start of the 2023 recovery. The CEO says this repeat performance is a sign the market phase is shifting, signaling the end of Bitcoin's bear stretch.

What This Means for the BTC Market

For traders and investors, this could be a cue to rethink risk profiles and strategies—on-chain metrics are often used as sentiment indicators. Still, interpreting any on-chain signal comes with uncertainty, and calling the end of the bear market reflects the CEO's viewpoint, not a guaranteed future move.