Bitcoin reclaims key technical levels as market strength improves

Bitcoin has reclaimed several key technical indicators used to assess long-term market strength, suggesting the 2026 bear cycle may have concluded. The cryptocurrency has moved above its 50-week simple moving average and its 365-day MVRV average, while also maintaining a position above its realized price.

Market analysts note that the recent decline was shallower than previous cycles, dropping approximately 53% from its October 2025 peak to a low of $58,525 in June 2026. This compares to much steeper drawdowns in previous years, such as the 84.5% drop seen in 2013-2015.

CryptoQuant CEO Ki Young Ju has expressed optimism, stating that the bear market is over and predicting 12 to 24 months of bullish or sideways price action. This assessment is based on the company’s on-chain profitability framework, which tracks whether holders are operating at a profit or loss. The Bull/Bear Market Cycle Indicator recently moved back into a zone that has historically signaled transitions out of weaker market phases.