The breakout above $70.000 and move into the $72.000 – $82.000 air gap are encouraging, but a single price push falls short of confirming a decisive structural shift

Historically, recoveries from deep bear markets have been validated by Percent of Supply in Profit climbing from below the -1 standard deviation threshold near 60% toward its long-run mean of ~75%
The recent move has lifted this metric to around 60% — consistent with early bounces seen at prior cycle bottoms, where exhaustion at first recovery attempts was common
A sustained push above 75% would carry considerably more weight as bull market confirmation, while continued rejection near current levels reinforces the bear market recovery narrative
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