Bitcoin remains below critical bear market exit indicators, according to analyst Willy Woo. Woo highlights that Bitcoin has not surpassed the cost basis of short-term holders (STHs), a key signal for the end of bear markets. The STH cost basis, representing the break-even level for investors who bought Bitcoin within the last 155 days, currently stands at approximately $81,000. This indicates a net unrealized loss of over 14% for recent buyers. Historically, Bitcoin's price breaking above the STH cost basis has marked the end of bear markets, accompanied by renewed investor buying and a reversal in the average acquisition level of STHs. Despite Bitcoin's recent price recovery to $69,500, it remains below the $81,000 threshold, suggesting patience is required before a market shift occurs.