BlockBeats News, July 19th, CryptoQuant analyst Darkfost posted that the Bitcoin bear market has lasted for about 9 months, impacting both short-term and long-term holders. The short-term holder cost basis has dropped below the long-term holder cost basis, and after a 3-day confirmation, this triggered a signal of "approaching the end of the bear market." This indicator calculates the long-term holder cost basis by excluding BTC held for over 7 years to more accurately reflect long-term holdings that are still economically active.

Darkfost emphasized that this signal does not mean the bear market is immediately over or that the market bottom has been determined, but rather suggests that the market may enter the final stage of the bear market, during which implementing a dollar-cost averaging strategy may be more reasonable.

He stated that if the short-term holder cost basis subsequently rises back above the long-term holder cost basis, it can be considered a confirmation signal of the start of a bull market and can serve as a reference for ending dollar-cost averaging. The current short-term holder cost basis has fallen from $112,500 to $69,000.