As Bitcoin surpassed $78,000 for the first time since mid-January, an analysis emerged suggesting that the end of the bear market can only be expected if the $80,000 resistance line is definitively broken. On-chain analytics firm Glassnode pointed out in its report, "If BTC recovers $80,000, over 54% of recent BTC investors will enter a profit zone. This aligns with past signals of a bear market's end. As spot BTC demand and ETF funds gradually flow in, individual and institutional investors have started re-engaging with the market, leading to a price rebound." It continued, "However, a cautious atmosphere is still detected in the derivatives market. Funding rates consistently remain negative, indicating a dominance of short positions. The increase in realized profits coupled with low volatility suggests that market confidence is still lacking. Overall, the market appears to be undergoing a gradual recovery phase, but further confirmation is needed. For the $80,000 breakthrough, spot buying and ETF fund inflows must continue, and if the current price level cannot be maintained, low liquidity could lead to a rapid decline."
