An analysis has emerged stating that bullish signals are simultaneously appearing in key data such as BTC's on-chain indicators, futures market, and options market. CoinDesk diagnosed, "According to Glassnode, BTC has surpassed both the True Market Mean, an indicator that can gauge investors' average cost basis, and the average purchase price of short-term holders. This is a signal of a bull market transition, and the next major resistance level is $85,200." It added, "In the futures market, funding rates, which had been negative for several months, have turned positive, increasing the likelihood of large-scale short position liquidations. In the options market, market makers are in a short gamma state around $82,000. In this scenario, if prices rise, additional buying for hedging purposes could flow in, accelerating the upward trend."
