Get Ready! A New Bitcoin Bull Market May Be Approaching — Is It Time to Invest?

The Bitcoin price has stayed around the $70,000 mark this weekend, creating a zigzag pattern above this key psychological threshold. Recent on-chain analysis has triggered a significant buy signal for BTC, suggesting that a bull market might be on the horizon.

Key Takeaways

Bitcoin's price is around $70,000, indicating a potential new bull market.
The Inter-Exchange Flow Pulse (IFP) may signal the end of a bear market, as it has recently risen above its 90-day average.
Investors should exercise caution, as the implications of the IFP may take time to reflect in Bitcoin's price movements.

Bitcoin

Is Bitcoin's Price Near Its Cycle Bottom?

On March 21, renowned market analyst Ali Martinez used the platform X to raise a bullish flag for Bitcoin, the largest cryptocurrency by market cap. Martinez indicated that Bitcoin could be entering a phase of substantial upward movement.

This optimistic outlook stems from a recent change in the Inter-Exchange Flow Pulse (IFP) metric. The Inter-Exchange Flow Pulse is an important on-chain indicator that monitors Bitcoin transactions between spot and derivative exchanges, utilizing Bitcoin exchange flow data.

Shifts in this on-chain metric provide insights into investor sentiment in the Bitcoin market. Generally, the IFP increases when a large amount of BTC is moved to derivative exchanges, reflecting a heightened risk appetite and the anticipation of a bullish period.

By analyzing the IFP's movement (shown as the purple line) compared to its 90-day moving average (represented by the broken lines), one can identify price peaks and valleys while assessing the long-term trend of the cryptocurrency. When the IFP dips below its 90-day average, it suggests a potential bear market and extended price declines.

Bitcoin Source: @alicharts on X

As illustrated in the chart, the IFP fell below the 90-day average early last year, indicating that the current bear market may have begun as early as the first quarter of 2025. Although Bitcoin reached a peak of over $126,000, it has since lost approximately 45% of its value from that high.

Interestingly, Bitcoin's price appears to have reached its lowest point, with the IFP recently crossing back above the 90-day average. According to Martinez's post on X, this crossover serves as a strong buy signal, indicating that "big money is gearing up for a rally."

That said, investors should be cautious as the IFP can occasionally serve as a leading indicator, meaning that the anticipated bullish effect on price might not materialize right away.

Bitcoin Price Overview

Currently, Bitcoin is priced at roughly $70,360, which marks a 0.3% increase over the past 24 hours.

Bitcoin The BTC price on the daily timeframe | Source: BTCUSDT chart on TradingView