Prominent Bitcoin analyst PlanB has declared that Bitcoin has already passed its cyclical bottom, citing a combination of on-chain and technical metrics in a post on X. Bitcoin is trading around $65,000, well above its 2022 lows, and PlanB highlighted three key signals: Bitcoin is above its 200-week moving average at $65,000, a historically important bear-market floor; it is also above the five-month short-term holder realized price of $72,000, meaning recent buyers are in profit; and the share of Bitcoin supply in profit has climbed to 72%, up from 50% earlier this year. The monthly relative strength index has also risen from 41 to 51, moving out of oversold territory.
PlanB’s view aligns with broader market tailwinds, including spot Bitcoin ETF inflows in the U.S. and anticipation of the next halving. Separately, CryptoQuant posted a Bitcoin cycle momentum signal on September 2, 2026, saying it “indicates a high probability that BTC is on track to break out of the downtrend and reverse the bear market.” Analysts note that momentum signals are not guarantees, but historically such readings have appeared near the end of major downtrends and are watched by traders alongside on-chain data, ETF flows, and macro conditions.
Still, some analysts caution that macroeconomic headwinds such as high interest rates and regulatory uncertainty could pressure prices. Backward-looking indicators can lag, and PlanB’s stock-to-flow model has faced criticism. If the signals are confirmed by price action and volume, a sustained trend reversal could mark the start of a new upward phase for Bitcoin.
