[CryptoQuant: Bitcoin Bear Market May Be Nearing Its End, Short-Term Holder Cost Has Dropped to $69,000] Reported by Jinse Finance, on July 19, CryptoQuant analyst Darkfost published an article stating that the Bitcoin bear market has lasted approximately 9 months, impacting both short-term and long-term holders. The cost basis for short-term holders has fallen below the cost basis for long-term holders and has been confirmed for 3 consecutive days, thereby triggering a signal that the 'bear market is nearing its end.' This indicator excludes BTC held for more than 7 years when calculating the cost basis for long-term holders, aiming to more accurately reflect the economically active long-term holdings. Darkfost emphasized that this signal does not mean the bear market will end immediately, nor does it confirm that the market bottom has been established. Instead, it suggests that the market may be entering the final stage of the bear market, during which adopting a dollar-cost averaging strategy might be more reasonable. He further stated that if the short-term holder cost basis subsequently breaks back above the long-term holder cost basis, it could be considered a confirmation signal for the start of a bull market phase and serve as a reference for ending dollar-cost averaging. Currently, the short-term holder cost basis has dropped from $112,500 to $69,000.