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Is the 2026 Bear Market Over?

Has Bitcoin bottomed in 2026? Track 15 on-chain indicators and compare current values against every bear market bottom since 2011 to determine whether the 2026 bear market is truly over โ€” or if more downside is ahead.

2026 Bear Market Bottom Score
2/ 30
NOT A BOTTOM
Indicators Triggered
1 / 15
10/15 indicators loaded
15+ pts
STRONG BUY
10-14 pts
MODERATE BUY
5-9 pts
CAUTIOUS
< 5 pts
NOT A BOTTOM
Share Bear Market Analysis

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BTC 500
Bear Market Bottom Indicator
Live in Analysis
Score
2/ 30
Verdict
NOT A BOTTOM
1 of 15 indicators triggered30 pts max
Tier 10/5(3pt)
Tier 21/7(2pt)
Tier 30/3(1pt)
MVRV Ratio
T1
๐Ÿ“Š Monitor
Puell Multiple
T1
โš ๏ธ Low
NUPL
T1
No Data
STH-MVRV
T1
โš ๏ธ Caution
ATH Drawdown
T1
No Data
RHODL Ratio
T2
No Data
Reserve Risk
T2
โœ… Historical Low
SOPR
T2
โŒ Not Bottom
LTH-MVRV
T2
โŒ Not Bottom
Supply in Profit
T2
โŒ Not Bottom
STH-NUPL
T2
No Data
LTH-NUPL
T2
No Data
LTH Supply
T3
๐Ÿ“Š Monitor
Liveliness
T3
โŒ Not Bottom
Vaultedness
T3
โŒ Not Bottom
15 on-chain indicators โ€ข Data from BitView
btc500.net

Tier 1 โ€” Primary Signals

3 pts each

These 5 indicators have correctly identified every bear market bottom (2011, 2015, 2018, 2020, 2022). When multiple Tier 1 signals fire together, it's the strongest evidence the bear market is over. Check how many are triggered now.

MVRV Ratio
Tier 1 ยท 3pt

Market Cap / Realized Cap

Current
1.49
๐Ÿ“Š Monitor
At Bear Market Bottoms
2011
0.47
2015
0.39
2018
0.70
COVID
0.98
2022
0.78
Signal: Must be < 1.0
View on BitView
Puell Multiple
Tier 1 ยท 3pt

Daily mining revenue / 365d MA

Current
0.98
โš ๏ธ Low
At Bear Market Bottoms
2011
0.42
2015
0.24
2018
0.39
COVID
0.66
2022
0.49
Signal: Must be < 0.5
View on BitView
NUPL
Tier 1 ยท 3pt

Net Unrealized Profit/Loss

Current
โ€”
No Data
At Bear Market Bottoms
2011
โ€”
2015
โ€”
2018
โ€”
COVID
โ€”
2022
โ€”
Signal: Must be negative
View on BitView
STH-MVRV
Tier 1 ยท 3pt

Short-term holder MVRV

Current
1.11
โš ๏ธ Caution
At Bear Market Bottoms
2011
0.38
2015
0.36
2018
0.63
COVID
0.67
2022
0.83
Signal: Must be < 1.0
View on BitView
ATH Drawdown
Tier 1 ยท 3pt

Drawdown from all-time high

Current
โ€”
No Data
At Bear Market Bottoms
2011
โ€”
2015
โ€”
2018
โ€”
COVID
โ€”
2022
โ€”
Signal: Must be < -70%
View on BitView

Tier 2 โ€” Confirmation Signals

2 pts each

Secondary indicators that confirmed Tier 1 signals at past bottoms. If these are also flashing, it adds conviction that the 2026 bear market has reached its end.

RHODL Ratio
Tier 2 ยท 2pt

Realized HODL wave metric

Current
โ€”
No Data
At Bear Market Bottoms
2011
โ€”
2015
โ€”
2018
โ€”
COVID
โ€”
2022
โ€”
Signal: Historic low zone
View on BitView
Reserve Risk
Tier 2 ยท 2pt

Price / HODL bank

Current
4.19e-6
โœ… Historical Low
At Bear Market Bottoms
2011
6.87e-6
2015
2.67e-6
2018
4.48e-6
COVID
4.54e-6
2022
2.79e-6
Signal: Multi-year lows
View on BitView
SOPR
Tier 2 ยท 2pt

Spent Output Profit Ratio

Current
1.00
โŒ Not Bottom
At Bear Market Bottoms
2011
1.00
2015
0.91
2018
0.97
COVID
0.92
2022
0.98
Signal: < 1 then recover
View on BitView
LTH-MVRV
Tier 2 ยท 2pt

Long-term holder MVRV

Current
1.60
โŒ Not Bottom
At Bear Market Bottoms
2011
0.55
2015
0.40
2018
0.73
COVID
1.16
2022
0.76
Signal: Approaching 1.0
View on BitView
Supply in Profit
Tier 2 ยท 2pt

BTC supply currently in profit

Current
14.1M BTC
โŒ Not Bottom
At Bear Market Bottoms
2011
4.3M BTC
2015
4.9M BTC
2018
7.0M BTC
COVID
8.1M BTC
2022
8.6M BTC
Signal: Must be < 50% of supply
View on BitView
STH-NUPL
Tier 2 ยท 2pt

STH unrealized P/L

Current
โ€”
No Data
At Bear Market Bottoms
2011
โ€”
2015
โ€”
2018
โ€”
COVID
โ€”
2022
โ€”
Signal: Deeply negative
View on BitView
LTH-NUPL
Tier 2 ยท 2pt

LTH unrealized P/L

Current
โ€”
No Data
At Bear Market Bottoms
2011
โ€”
2015
โ€”
2018
โ€”
COVID
โ€”
2022
โ€”
Signal: Near zero
View on BitView

Tier 3 โ€” Secondary Signals

1 pt each

Longer-term accumulation and HODLing signals observed at past bottoms. These provide supporting evidence but are less precise for timing the exact end of the bear market.

LTH Supply
Tier 3 ยท 1pt

Long-term holder supply

Current
1656.7T sats
๐Ÿ“Š Monitor
At Bear Market Bottoms
2011
452.0T sats
2015
988.3T sats
2018
1249.9T sats
COVID
1363.7T sats
2022
1527.5T sats
Signal: Uptrend = buy
View on BitView
Liveliness
Tier 3 ยท 1pt

Ratio of coin days destroyed vs created

Current
0.63
โŒ Not Bottom
At Bear Market Bottoms
2011
0.39
2015
0.49
2018
0.61
COVID
0.61
2022
0.61
Signal: Falling = HODLing
View on BitView
Vaultedness
Tier 3 ยท 1pt

Coins vaulted / total

Current
0.37
โŒ Not Bottom
At Bear Market Bottoms
2011
0.61
2015
0.51
2018
0.39
COVID
0.39
2022
0.39
Signal: Rising = accumulation
View on BitView
How to Use This Page

1. Check the Composite Score โ€” The score at the top shows how many on-chain indicators are in "bear market bottom zone." A score of 15+ means 2026 is showing the same capitulation signals that marked the end of previous bear markets (2011, 2015, 2018, 2020, 2022).

2. Focus on Tier 1 First โ€” MVRV, Puell Multiple, NUPL, STH-MVRV, and ATH Drawdown are the most reliable at detecting bear market bottoms. If these aren't in bottom zone, the 2026 bear market is probably not over yet.

3. Look for Confluence โ€” The clearest bear market bottoms show 3+ Tier 1 signals + 2+ Tier 2 signals firing together. The more indicators triggered, the stronger the case that the bear market is done.

4. Click "View on BitView" โ€” Each indicator links to its live chart on BitView so you can see the full historical context and judge for yourself whether 2026 has truly bottomed.

5. Historical Context โ€” Each card shows the exact values recorded at past bear market bottoms. Compare today's 2026 values to see if we've reached the same capitulation levels โ€” or still have further to fall.

Data from BitView โ€ข 22,582 charts analyzed โ€ข 15 key indicators tracked โ€ข Live 2026 data

Reference bottoms: Nov 2011 ยท Jan 2015 ยท Dec 2018 ยท Mar 2020 ยท Nov 2022