Bitcoin’s Bull/Bear Market Cycle Indicator has turned positive for the first time since early October 2025, prompting CryptoQuant CEO Ki Young Ju to declare the 2026 bear cycle over. The indicator reached 0.042 on Aug. 26, compared with a cycle-low reading of -1.244 when Bitcoin fell to $60,000 on Feb. 5. Bitcoin demand has also turned positive in spot trading and perpetual futures for the first time since October 2025. Bitfinex said market sentiment and supply-demand conditions improved after Strategy neither bought nor sold Bitcoin last week, while securing net proceeds and U.S. dollar reserves through common stock sales. The exchange said this reduced selling pressure linked to Strategy’s Bitcoin holdings and noted that the company has indicated plans to resume purchases. Spot Bitcoin ETFs recorded their largest weekly net inflows since October 2025, further improving market flows. Analysts still question whether liquidity and demand can sustain a broader recovery, with the August monthly close viewed as pivotal for a potential break above a downward-sloping resistance trend line.