{"id":78617,"date":"2026-09-24T19:51:15","date_gmt":"2026-09-24T19:51:15","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-flashes-signal-seen-at-start-of-2019-and-2023-bull-markets\/"},"modified":"2026-09-24T19:51:15","modified_gmt":"2026-09-24T19:51:15","slug":"bitcoin-flashes-signal-seen-at-start-of-2019-and-2023-bull-markets","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-flashes-signal-seen-at-start-of-2019-and-2023-bull-markets\/","title":{"rendered":"Bitcoin Flashes Signal Seen at Start of 2019 and 2023 Bull Markets"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Glassnode says a bitcoin valuation measure has moved above its one-year average.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The same crossover appeared near the start of the 2019 and 2023 bull markets.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Altcoin holders remain largely in losses despite a recent rally.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Bitcoin Signal Recalls Earlier Bull Markets<\/h2>\n<p>Bitcoin has regained a momentum threshold that appeared near the start of its 2019 and 2023 bull markets, according to blockchain analytics firm Glassnode. In a Sept. 22 post, the firm showed <a href=\"https:\/\/x.com\/glassnode\/status\/2102403996300476779\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin\u2019s market value to realized value ratio<\/a> moving back above its 365-day average after a prolonged stretch below it.<\/p>\n<p>The ratio, known as MVRV, compares bitcoin\u2019s market value with the estimated value of coins based on when they last moved. Crossing its annual average means the ratio has risen above its own recent trend. Glassnode wrote:<\/p>\n<blockquote>\n<p>\u201cThis is the same cross that we saw in 2019 and 2023 at the beginning of each bull market.\u201d<\/p>\n<\/blockquote>\n<p>Both earlier crossings followed major declines, but their subsequent price paths differed. Bitcoin rallied sharply in 2019 before giving back part of its gains, while its 2023 recovery continued into 2024. That <a href=\"https:\/\/www.bitcoin.com\/get-started\/bitcoin\/basics\/bitcoin-price-history\/\" target=\"_blank\" rel=\"noopener noreferrer\">price history<\/a> gives the latest crossover its appeal for bulls without making either earlier path a forecast for 2026.<\/p>\n<figure id=\"attachment_850316\" aria-describedby=\"caption-attachment-850316\" style=\"width:2560px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-850316\" class=\"wp-caption-text\">Glassnode\u2019s chart shows bitcoin\u2019s valuation momentum crossing above its 365-day average, a move also seen near the start of the 2019 and 2023 bull markets. Source: Glassnode.<\/figcaption><\/figure>\n<h2>The Rally Still Faces a Demand Test<\/h2>\n<p>The signal arrived as bitcoin recovered from this year\u2019s lows and briefly <a href=\"https:\/\/news.bitcoin.com\/crypto-news\/bitcoin-reclaims-87k-as-bull-market-momentum-builds\/\">reclaimed $87,000<\/a> this week for the first time since January. Its price advance makes the crossover more relevant to traders, but the indicator measures a change in the relationship between market value and holders\u2019 estimated cost basis. It does not measure how much buying will potentially follow.<\/p>\n<p>Demand through U.S. spot bitcoin exchange-traded funds (ETFs) has strengthened alongside the rally. The funds drew <a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoin-etfs-hit-2026-high-with-999m-inflow-as-bitcoin-price-tops-86k\/\">nearly $999 million in net inflows<\/a> on Sept. 21, their largest single-day total of 2026. Fund flows offer a separate measure of buying activity from Glassnode\u2019s onchain momentum signal.<\/p>\n<p>Potential selling also sits near recent prices. An estimated <a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoin-price-tests-86k-as-1-07m-btc-supply-wall-looms\/\">1.07 million BTC was acquired between $83,000 and $86,000<\/a>, placing some holders near their purchase prices as bitcoin revisits that range. The largest concentration is around $85,000, and most of the coins belong to long-term holders. Some may sell as they return to breakeven, creating a test of whether current demand can absorb that supply.<\/p>\n<p>Options traders have built positions near higher price levels, potentially affecting bitcoin\u2019s next move. In its Sept. 23 market analysis, Glassnode identified <a href=\"https:\/\/research.glassnode.com\/the-week-onchain-week-38-2026\/\" target=\"_blank\" rel=\"noopener noreferrer\">$95,000 to $97,000 as the first major test<\/a> if the rally continues, while describing profit-taking so far as relatively light.<\/p>\n<h2>Altcoin Holders Remain in Losses<\/h2>\n<p>Bitcoin\u2019s improving signal has not erased losses across the wider crypto market. In a separate Sept. 22 post, Glassnode reported that <a href=\"https:\/\/x.com\/glassnode\/status\/2102479061079736552\" target=\"_blank\" rel=\"noopener noreferrer\">less than a quarter of the median tracked altcoin\u2019s supply was in profit<\/a>. The measure describes the share of coin supply held above its estimated acquisition cost, rather than a count of individual investors.<\/p>\n<figure id=\"attachment_850318\" aria-describedby=\"caption-attachment-850318\" style=\"width:2560px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-850318 size-full\" src=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/altcoin-investors-are-still-in-the-red-scaled.jpg\" alt=\"altcoin investors are still in the red\" width=\"2560\" height=\"1375\" srcset=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/altcoin-investors-are-still-in-the-red-300x161.jpg 300w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/altcoin-investors-are-still-in-the-red-1024x550.jpg 1024w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/altcoin-investors-are-still-in-the-red-768x413.jpg 768w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/altcoin-investors-are-still-in-the-red-1536x825.jpg 1536w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/altcoin-investors-are-still-in-the-red-2048x1100.jpg 2048w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/altcoin-investors-are-still-in-the-red-scaled.jpg 2560w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\"\/><figcaption id=\"caption-attachment-850318\" class=\"wp-caption-text\">Less than 25% of the median tracked coin\u2019s supply is in profit, compared with a higher share for bitcoin. Source: Glassnode.<\/figcaption><\/figure>\n<p>That weak profit reading can coexist with rising prices. Glassnode\u2019s Sept. 23 analysis found that 72.5% of tracked altcoins outperformed bitcoin over the preceding week. For holders who bought at higher prices, however, a recent gain may still leave their coins below their purchase cost.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoin-flashes-signal-seen-start-2019-2023-bull-markets\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Glassnode says a bitcoin valuation measure has moved above its one-year average. The same crossover appeared near the start of the 2019 and 2023 bull markets. Altcoin holders remain largely in losses despite a recent rally. Bitcoin Signal Recalls Earlier Bull Markets Bitcoin has regained a [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":78618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78617"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=78617"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78617\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/78618"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=78617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=78617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=78617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}