According to online reports, according to Matrixport analysis, the bull-bear market indicator of the ratio of Bitcoin market value to realized market value has re-entered the bullish territory. Reversals of data along this chain are usually rare and change direction only within a few weeks. A similar situation occurred in 2020, when it was considered a mid-cycle slowdown. Analysts pointed out that positive changes in current indicators may signal that Bitcoin is expected to reach new all-time highs. Although technical analysis and market outlook are usually ahead of on-chain data, the emergence of confirmatory indicators still has important reference value. If this indicator can continue to maintain positive momentum, bitcoin prices may break through further.