Analyst: Bitcoin UTXO Data Signals Potential Cycle Shift

On-chain analyst Crypto Dan suggests that a significant reduction in the share of Bitcoin addresses at a loss indicates the end of the bear market. Despite macro headwinds like Fed rate hikes and the stalled CLARITY Act, the analyst argues that current on-chain momentum points toward a transition into a bullish cycle. Bitcoin is currently trading between key cost-basis levels of $71,300 and $79,800.