Over the past month, analysts have increasingly positioned Bitcoin in an ongoing bear market. However, five key data points show the market is going through a mid-cycle reset after the sharp rally to record highs in late 2025. On-chain and ETF data now show the selling wave is losing force. Instead of long-term investors exiting, the data points to late buyers being flushed out while stronger holders absorb supply. This matters because mid-cycle resets often mark the transition from panic selling to accu ...

Daily spot trading volumes have roughly doubled versus the last cycle. Bitcoin now averages $8–22 billion per day, up from $4–13 billion previously. Futures open interest sits at a record high of $68 billion, with about 30% on CME. That shows major institutional players are active. Historic inflows, record invested capital, rising volumes, and falling volatility all point to a mid-cycle reset for the Bitcoin price.Market data shows Bitcoin's unusual strength. One-year realized volatility has almost halved, ...