{"id":338415,"date":"2023-08-26T08:00:24","date_gmt":"2023-08-26T02:30:24","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=338415"},"modified":"2023-08-25T17:49:26","modified_gmt":"2023-08-25T12:19:26","slug":"if-this-is-true-bitcoin-will-soon-exit-the-bear-market","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/if-this-is-true-bitcoin-will-soon-exit-the-bear-market\/","title":{"rendered":"If this is true, Bitcoin will soon exit the bear market\u00a0"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Bitcoin\u2019s NVT Signal reached a one-month low on 25 August.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">The king coin\u2019s exchange reserve declined, and other metrics also turned bullish.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">After the last price correction on 16 August,<\/span> <span style=\"font-weight: 400;\">Bitcoin\u2019s [BTC]<\/span><span style=\"font-weight: 400;\"> price settled around the $26,000 mark. While several investors remained bearish on the market condition, BTC might be planning a silent exit from its current price trend.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read<\/span> <a href=\"http:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Bitcoin\u2019s [BTC] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-24<\/span><\/p>\n<hr \/>\n<h4><strong>We might be at a market bottom<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">According to<\/span> <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, BTC\u2019s price dropped by more than 1.5% in the last 24 hours. At press time, it was trading at $26,090.91 with a market capitalization of over $507 billion. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the bearish price trend might end soon. Tedtalksmarco, a popular crypto influencer, recently posted a tweet highlighting an interesting development.<\/span><\/p>\n<p>https:\/\/twitter.com\/tedtalksmacro\/status\/1694956462257176868?ref_src=twsrc%5Etfw<\/p>\n<p><span style=\"font-weight: 400;\">As per the tweet, TrueUSD\u2019s [TUSD] market capitalization has been increasing of late. This happened while most of the other stablecoins\u2019 market cap graphs remained relatively flat. Historically, whenever TUSD\u2019s market cap has risen,<\/span> <a href=\"http:\/\/ambcrypto.com\/will-bitcoin-hover-around-25k-in-q3-heres-arthur-hayes-take\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BTC<\/span><\/a><span style=\"font-weight: 400;\">\u2019s price has followed suit. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Such episodes happened earlier this year in January, March, and July, giving hope for a price uptick this time as well. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, Glassnode\u2019s data revealed that BTC\u2019s NVT Signal just reached a 1-month low of 1,292.206. A low NVT signal indicates that investors were pricing Bitcoin at a discount.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcc9 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> NVT Signal (7d MA) just reached a 1-month low of 1,292.206<\/p>\n<p>View metric:<a href=\"https:\/\/t.co\/NIjFezJMgN\">https:\/\/t.co\/NIjFezJMgN<\/a> <a href=\"https:\/\/t.co\/WffkFJdmGP\">pic.twitter.com\/WffkFJdmGP<\/a><\/p>\n<p>&mdash; glassnode alerts (@glassnodealerts) <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1694926389873426850?ref_src=twsrc%5Etfw\">August 25, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Also, the low NVT Signal suggested a possible market bottom, indicating that this was the right time to accumulate Bitcoin. In fact, whales have already started accumulating, a sign that they were expecting the coin\u2019s price to surge in coming days. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Recently, addresses holding between 10 and 10,000<\/span> <a href=\"http:\/\/ambcrypto.com\/bitcoin-as-large-transactions-blow-up-are-whales-buying-the-dip\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BTCs<\/span><\/a><span style=\"font-weight: 400;\">\u00a0added about 11,629 coins to their existing supply since the crash on 17 August.\u00a0<\/span><\/p>\n<h4><strong>A Bitcoin bull rally is around the corner<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Not only the aforementioned updates, but several other metrics also supported the possibility of a price uptick. For instance, BTC\u2019s exchange reserve decreased. BTC\u2019s aSORP was green as well. <\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Is your portfolio green? Check the<\/span> <a href=\"http:\/\/ambcrypto.com\/calculator\/bitcoin-profit-calculator\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BTC Profit Calculator<\/span><\/a><span style=\"font-weight: 400;\">\u00a0\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">This meant that more investors were selling at a loss. However, in the middle of a bear market, it can indicate a market bottom.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another bullish metric was<\/span> <a href=\"http:\/\/ambcrypto.com\/bitcoin-shows-short-term-promise-does-this-herald-a-recovery\/\"><span style=\"font-weight: 400;\">Bitcoin&#8217;s<\/span><\/a> B<span style=\"font-weight: 400;\">inary CDD was green, suggesting that long-term holders&#8217; movements in the last seven days were lower than average. Additionally, as per<\/span> <a href=\"https:\/\/www.coinglass.com\/BitcoinOpenInterest\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Coinglass<\/span><\/a><span style=\"font-weight: 400;\">, Bitcoin\u2019s Open Interest had declined, increasing the chances of an upcoming trend reversal.<\/span><\/p>\n<figure id=\"attachment_338418\" aria-describedby=\"caption-attachment-338418\" style=\"width: 1312px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/CryptoQuant-1-1.jpg\"><img decoding=\"async\" class=\"wp-image-338418 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/CryptoQuant-1-1.jpg\" alt=\"\" width=\"1312\" height=\"287\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/CryptoQuant-1-1.jpg 1312w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/CryptoQuant-1-1-300x66.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/CryptoQuant-1-1-1024x224.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/CryptoQuant-1-1-768x168.jpg 768w\" sizes=\"(max-width: 1312px) 100vw, 1312px\" \/><\/a><figcaption id=\"caption-attachment-338418\" class=\"wp-caption-text\">Source: CryptoQuant<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>TrueUSD\u2019s market cap has been on the rise, which historically was followed by hikes in BTC\u2019s price. Metrics also pointed at a possible market bottom.<\/p>\n","protected":false},"author":75,"featured_media":338421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,4,20],"tags":[],"class_list":["post-338415","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>If this is true, Bitcoin will soon exit the bear market\u00a0 - AMBCrypto<\/title>\n<meta name=\"description\" content=\"After the last price correction on 16 August 2023, Bitcoin\u2019s [BTC] price has remained bearish as it settled around the $26,000 mark.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/if-this-is-true-bitcoin-will-soon-exit-the-bear-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If this is true, Bitcoin will soon exit the bear market\u00a0 - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"TrueUSD\u2019s market cap has been on the rise, which historically was followed by hikes in BTC\u2019s price. 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