As Bitcoin (BTC) added more than $280 billion to its market capitalization over the past 30 days, reaching $1.54 trillion on September 2, 2026, the Bitcoin Cycle Momentum has signaled the onset of a macro bull run.
This momentum metric, which measures the difference between CryptoQuant’s PnL (Profit and Loss) Index and its 365-day moving average, has returned to positive territory for the first time in eight months, as per data from CryptoQuant.
Historically, positive values, represented in green, have signaled an active bull cycle and vice versa. As such, this regime filter shows that Bitcoin bulls have regained control for the first time in 2026.
Notably, the Bitcoin Cycle Momentum is a pure momentum model that shows most gains are made when it rises above zero and remains in a bear market once it enters negative territory.
“For this reversal signal to be confirmed, we want to see the indicator reach a level between 20-30 in the coming weeks, continuing the upward trend in price recovery,” Gaah, a verified and pseudonymous author at CryptoQuant, noted.
Bitcoin price performance and analysis
Bitcoin price has fallen 12.36% year-to-date (YTD), trading at $76,750 at the time of writing. Over the last 24 hours, the flagship coin’s trading volume rose 0.3% to $30.04 billion at the time of reporting.
However, BTC’s price has climbed by more than 22% over the past 30 days, fueled by institutional spot demand led by BlackRock Inc. (NYSE: BLK) and Strategy Inc. (NASDAQ: MSTR).
Consequently, Bitcoin whales could have fueled the recent shift of the above momentum metric from negative to positive. If the BTC Cycle Momentum continues to climb on the positive side, amid strong institutional demand, the recent bullish momentum could accelerate.
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