Various indicators that analyze activity in the Bitcoin network point to a potential shift towards a new growth cycle. These indicators, tracking different aspects of the BTC blockchain, are traditionally associated with the onset of growth periods, especially in anticipation of events such as the Bitcoin halving.

Using an indicator developed by analyst @therationalroot, there is an observed increase in the so-called 'fair value' of Bitcoin. This change often coincides with the beginning of growth periods. Additionally, the realized market capitalization, which represents a more accurate measure of BTC's value, also shows an upward trend, potentially indicating a change in the long-term market direction.

Analysis of the actions of long-term and short-term Bitcoin holders also suggests the possible start of a new bull market. During periods of BTC price growth, long-term investors typically sell their assets to short-term buyers, historically coinciding with the start of bull markets.

The information presented is for informational purposes only and should not be considered as a basis for investment decisions. Readers are advised to exercise caution and make decisions based on their own analysis and risk assessment.