These 3 Signals Mark Bear Market Exits—Bitcoin Has Yet To Trigger Them

Bitcoin is still far from triggering the three signals that have historically appeared at the end of bear markets, according to analyst Willy Woo. Bitcoin Is Still Trading Far Below The Cost Basis Of Recent Investors In a new post on X, analyst Willy Woo has listed the three things that tend to happen at the end of bear markets. The first signal is the price breaking the cost basis of the short-term holders (STHs). The STHs refer to the investors who purchased their coins within the past 155 days. As such, the cost basis of this group represents the break-even level of the recent buyers of the cryptocurrency. Related Reading: Bitcoin Sharks & Whales Capitulate: Realized Loss Exceeds $200M As the below chart shared by Woo shows, Bitcoin fell under the STH cost basis during past bear markets and maintained there, suggesting that the new entrants remained underwater. As is visible in the graph, Bitcoin also slipped under the STH cost basis alongside the bearish shift in Q4 2025 and si