# 加密货币

Bitcoin Bull and Bear Cycle Signals + Operation Logic (2026 Latest Version)
Bitcoin does not have an eternal bull market, only a 4-year halving cycle + chip transfer + emotional cycle. Understanding the signals is more important than blindly chasing highs or holding on through dips. 👇
🔴 Bear market bottom signals (phased deployment zone)
• ✅ On-chain chips: Exchange BTC balances continue to hit new lows (about 1.8 million coins in April 2026, the lowest since 2021), coins transfer to wallets, long-term holders (LTH) hold ≥70%, locked and immobile.
• ✅ Valuation indicators: MVRV<1, NUPL≈0, SO

Daily focus on the cryptocurrency market and energy commodities price trends, with the overall market currently maintaining a range-bound oscillation pattern.
As the market's core asset, Bitcoin's price fluctuations influence overall market sentiment, with various small and medium-cap coins showing clear divergence in their trends. Meanwhile, WTI crude oil and NG natural gas are affected by geopolitical situations, supply and demand capacity, and their market movements also warrant ongoing attention.
All analyses are solely personal opinions for communication purposes and do not constitute any

OPEN: A gentle rebound in the AI + blockchain narrative, is it worth laying in wait?
Just saw that the OPEN/USDT spot price broke through the 0.21 level, with a gain of +2.72%, and the perpetual contract gain is even close to 3%.
As an important representative of the "AI + blockchain" narrative in this cycle, OpenLedger has been quietly addressing the pain points of AI data rights confirmation.
Currently, the K-line pattern looks like it is stabilizing and rebounding; if you are optimistic about the next phase of explosive growth in the AI sector, this might be a good observation point.