CryptoQuant: Bitcoin Cycle Momentum Reading is Negative, Bear Market Not Over CryptoQuant data shows that the Bitcoin Cycle Momentum indicator currently reads -11.4, still within the bear market range. Analyst @gaah_im pointed out that this range has historically formed a major support level for BTC, but a trend reversal has yet to be confirmed—prices need to form a bullish pattern, and the indicator must break above the neutral zone. The bear market cycle has not technically ended.