Bitcoin's price, currently trading 5% above its recent low of $108,650, may have found a local bottom, according to several key indicators. The entity-adjusted dormancy flow, a metric that compares Bitcoin's market capitalization to its annualized dormancy value, has dropped below 250,000, a level historically associated with significant price recoveries. This metric recently hit a low of 133,300, suggesting a potential bullish reversal. Additionally, Bitcoin's short-term holder Net Unrealized Profit/Loss (NUPL) has turned negative, indicating seller exhaustion. Historically, such negative readings have marked local bottoms during bear markets, paving the way for renewed accumulation. The recent price action has also formed a V-shaped pattern on the 12-hour chart, with potential for further gains towards the $118,000 resistance zone. A double-bottom formation on the daily chart suggests a possible return to all-time highs of $124,500 if resistance levels are breached.