Recently, the Bitcoin market has attracted widespread follow, with investors speculating on its potential reversal timing. Analysis indicates that Bitcoin's reversal needs to meet four key conditions.

First, the buy-sell ratio in the order book turned positive and remained stable. This indicator showed a bullish trend during the last three instances when it reached local bottoms, providing important reference for the market.

Secondly, the peak slippage needs to break through the 150 mark. Historical data shows that when Bitcoin slippage exceeds this threshold, it is often accompanied by a price increase, which may indicate increased market volatility.

Third, the ratio of long positions in real retail accounts needs to completely reverse. Currently, this value is 61.95%, and historical experience indicates that readings above 60% typically signal the arrival of a bullish turning point, which may indicate the formation of a local bottom.

Finally, the price needs to break through and stabilize above the EMA50 moving average, which will be a strong technical signal.

It is worth noting that during the current adjustment period, the behavior of large investors is also revealing some positive signals. On-chain data shows that certain whales have begun to accumulate Bitcoin, purchasing 200 BTC at once, valued at approximately 23 million USD, demonstrating confidence in the market.

In addition, long-term holders and institutional investors appear to be adopting a buy-the-dip strategy. Data shows that the supply of Bitcoin held by early buyers has approached 5 million coins, reinforcing the perception of active participation by long-term investors in the market.

Overall, these signs may indicate the early stages of a market reversal. However, investors still need to remain cautious and closely follow whether Bitcoin can hold its local bottom to avoid falling into a potential bull trap.

In this uncertain market environment, continuously following the changes in various indicators, combined with a comprehensive analysis of the macroeconomic situation, will help investors make more informed decisions.