Bitcoin signals potential bull market via historical cost basis crossover

Bitcoin has displayed technical signals interpreted by analysts as confirmation of a new bull market. One analysis highlights a holder cost basis crossover, which has occurred five times historically in 2012, 2015, 2019, 2023, and now. This specific signal occurs when the short-term holder cost basis rises above that of active long-term holders.

Supporting this trend, spot Bitcoin ETFs have seen significant demand, drawing $2.06 billion in inflows over three trading sessions. Other technical chart analyses suggest a strong recovery from previous lows, with some projections targeting price levels as high as $99,000 based on monthly candlestick patterns and support zones.