## Bitcoin's Fund Flow Ratio Recovers, Indicating Bull Market Start CryptoQuant contributor Avocado_onchain has observed that Bitcoin's Fund Flow Ratio (FFR) has recovered to its mean level, suggesting that investors have resumed trading on exchanges. Currently, the 7-day simple moving average (SMA) of the FFR has reached 0.05, a level that has historically acted as a major support line where Bitcoin tends to find a bottom and start recovering. Avocado_onchain highlights that FFR rebounds often occur before the start of bull markets after bear markets or halvings and are often followed by extended periods of significant BTC price appreciation. ## Additional Indicators Point to Recovery Other indicators also support the notion of a market recovery. The Estimated Leverage Ratio's (ELR) 30-day SMA is currently within a major support range of 0.15-0.175, indicating signs of recovery and upside potential. The Binary CDD indicator, a measure of long-term holder accumulation of BTC, also shows that these entities are accumulating, with its 30-day EMA currently within the range of 0.1-0.3. Overall, the recovery in Bitcoin's Fund Flow Ratio, combined with other positive indicators, suggests that the market may be entering a bullish phase after a period of consolidation.