Bitcoin shows signs of exiting bear market as selling pressure fades and gradual accumulation begins.

Bitcoin may be moving out of its bear market phase as selling pressure decreases and liquidity improves, according to 10x Research's Marcus Thielen. Key indicators include positive regime-model readings, slowing outflows, reduced futures interest, and inflows from ETFs and corporate buyers. Thielen suggests the market is shifting toward gradual accumulation rather than defensive selling, with Bitcoin's next rise likely driven by steady capital inflows rather than a sudden macro event. He also notes that Bitcoin's cycles are more influenced by demand and sentiment than by halving events, and that inflation and AI-driven growth could impact its future trajectory.