Four signs that Bitcoin has recovered to ‘full’ bullish momentum

Market analysts said Bitcoin’s (BTC) upside remained intact contempt the 2.5% correction from its multi-month precocious of $82,800 reached connected May 6.

Key takeaways:

• Bitcoin has successfully re-entered enlargement territory arsenic the Bull Market Support Band turned to support.
• Bitcoin’s Stablecoin Supply Ratio has recovered from historical lows, indicating caller liquidity is returning.
• Bitcoin’s spot taker CVD flips positive, suggesting existent spot request is back

Bitcoin’s terms momentum is expanding

Private wealthiness manager Swissblock stated that Bitcoin is “still astatine afloat momentum,” contempt the flimsy correction from caller highs.

Swissblock said that the latest rally saw the Bitcoin terms momentum “successfully reignited and pushed backmost into afloat enlargement territory.”

Related: Bitcoin backing rates crook positive: Is BTC rally to $85K next?

Bitcoin is present consolidating wrong the cost-basis battlefield, with the existent marketplace mean and the short-term holder outgo ground astir $80,000 acting arsenic enactment and the active realized terms astatine $85,000 arsenic resistance. 

Meanwhile, “momentum remains structurally strong,” the wealthiness manager said, adding:

“As agelong arsenic momentum stays supra the modulation area, bulls clasp control.”

Bitcoin terms momentum. Swissblock

Echoing this observation, expert The Great Mattsby pointed out that Bitcoin’s Bull Market Support Band has present turned into support, portion the 21-week exponential moving mean has crossed backmost supra the 20-week elemental moving average.

“The inclination has officially flipped backmost to bullish.” 

BTC/USD play chart. Source: X/The Great Mattsby

Bitcoin liquidity signals “strong recovery”

The Stablecoin Supply Ratio (SSR) has recovered from its little humanities scope beneath 10, the aforesaid portion that marked marketplace bottoms successful mid-2021, 2022 and mid-2023. 

Each clip the SSR recovered from these lows, Bitcoin broke retired of scope and staged a beardown rebound, arsenic shown successful the illustration below.

Bitcoin Stablecoin Supply Ratio: Source: CryptoQuant

The recovering SSR suggests that stablecoin liquidity is returning to exchanges again, perchance mounting the signifier for different bull tally for BTC price.

The Binance Stablecoin Supply Ratio Oscillator tells the aforesaid story. The illustration beneath shows that Bitcoin’s 90D Stablecoin Supply Ratio Oscillator has moved backmost into affirmative territory, reaching 12-month highs astatine 2.8.

“This reflects a beardown betterment from the antagonistic zone, with stablecoin purchasing request becoming much progressive during the existent rebound,” CryptoQuant expert Zizcrypto said successful a Tuesday QuickTake note, adding:

“For context, the oscillator antecedently reached 2.43 successful May 2025 and 4.00 successful November 2024 — some during stronger marketplace phases.”

Stablecoin proviso ratio oscillator. Source: CryptoQuant

Bitcoin’s transaction enactment is astatine 20-month highs

The spot successful BTC terms is reflected successful Bitcoin's web activity, with regular transaction number rising by 116% successful May to 831,450 connected May 9.

This metric was past astatine akin levels successful September 2024, earlier Bitcoin aboriginal rallied supra $100,000 during the broader marketplace surge pursuing the US statesmanlike election.

Bitcoin’s web enactment is “more progressive than erstwhile it was astatine $100K,” expert CW8900 said successful an X station connected Saturday, adding:

“The web is already showing signals of a bull market.”

Bitcoin regular transaction count. Source: CryptoQuant

Bitcoin’s regular progressive code number has besides climbed, expanding by 7.1% implicit the past week to 707,719, portion full interest measurement surged 37% to $279,300 implicit the aforesaid period, according to Glassnode’s latest Market Pulse report.

“Such a important summation suggests heightened onchain activity, perchance signaling bullish marketplace conditions.”

Bitcoin regular progressive code count. Source: Glassnode

Increasing transaction count, regular progressive addresses and fees means much users are interacting with the network. It suggests precocious web activity, often correlating with accrued involvement and marketplace confidence.

Bitcoin's “real demand” is back

Bitcoin’s 90-day spot taker cumulative measurement delta (CVD), a measurement of the quality betwixt bargain and merchantability measurement implicit 3 months, shows a “significant displacement successful superior travel structure,” according to CryptoQuant expert Rei Researcher. 

The metric flipped affirmative (green bars successful the illustration below) successful aboriginal May arsenic the terms broke supra the $78,000 absorption and has remained affirmative since. 

“Taker Buy Dominance successful the spot marketplace indicates buying unit from ‘major players’ (Whales/Institutions) looking to clasp $BTC alternatively than conscionable speculating via derivatives,” the Rei Researcher said successful a caller Quicktake note, adding: 

“Real request has prevailed. When bulls are consenting to wage higher prices to ain $BTC, a sustainable uptrend usually follows.”

Bitcoin spot taker CVD. Source: CryptoQuant

If the CVD remains green, it could acceptable the signifier for different rally arsenic seen successful the past. A akin occurrence successful May 2025 accompanied 65% BTC terms gains. 

Meanwhile, Bitcoin’s spot request is besides accelerating, with spot CVD rising 47% to $62 cardinal from $42 cardinal a week ago, further information from Glassnode shows.

“This summation indicates a important uptick successful buying aggression among marketplace participants,” the onchain information supplier said, adding:

“This behaviour implies heightened conviction, with assertive traders actively mounting higher marketplace prices, perchance signaling continued bullish momentum.”

Bitcoin: Spot CVD. Source: Glassnode

As Cointelegraph reported, Bitcoin’s marketplace worth to realized worth (MVRV) ratio suggests BTC's marketplace operation is strengthening, which whitethorn beryllium an aboriginal motion of a caller bull market.