Analysis: The bear market may continue until mid-2027, and close attention should be paid to the cross signal between the 90 day moving average and the 365 day moving average Crypto analyst Axel stated in a personal blog post that the current bear market cycle began at a historical high of approximately $125000 in October 2025. The Entity Adjusted Livelines indicator confirms this, reaching a cyclical peak of 0.02676 in December 2025, with a typical lag compared to prices, and is now reversing downwards. In history, such reversals typically initiate an accumulation phase lasting 1.1 to 2.5 years. The chart clearly shows the first two accumulation cycles, with the bear market lasting 1.1 years in 2020 and 2.5 years in 2022-2024. Both times started in exactly the same way, the green line reversed from its peak and entered a sustained downward phase, causing the price to decline accordingly. The current form is completely consistent in structure. If the historical pattern repeats itself, the current accumulation period will last at least until the end of 2026, and a more realistic expectation is until mid-2027. The key confirmation signal is that the 90 day moving average has reversed downwards and fallen below the 365 day moving average (0.02622) from above. The possibility of a mid cycle reset and restart of the uptrend still exists before this crossover occurs.