CEO Cryptoquant: BTC remains in a bull market as long as the price is above $47k.

One of the indicators of a bull market is the average purchase price of Bitcoin and it is currently in the range of $47k-$49k. This does not mean that the course will be adjusted to this level, just a warning that this is theoretically possible.

Staying above $47k keeps BTC in a bull market, according to CEO Cryptoquant. The current average purchase price of $47k-$49k supports this. While not a guarantee, it's a useful indicator to monitor.