Bitcoin has stabilized above $81,000 after briefly surpassing $82,000 for the first time since mid-May, while on-chain indicators and improving sentiment suggest a possible shift toward a bullish cycle. The rebound in the short-term holder SOPR (Spent Output Profit Ratio), which tracks whether Bitcoin is sold at a profit or loss, has drawn attention after 11 months of weakness. The Crypto Fear & Greed Index remains in Greed territory, and Bitcoin has delivered an average fourth-quarter return of 77.07% from 2013 through last year, according to CoinGlass. The rally now faces two significant policy tests: a U.S. Senate vote on the Clarity Act scheduled for September 15 and the Federal Open Market Committee rate decision on September 16. CME FedWatch put the probability of a rate increase at 50.2% on September 4, while Polymarket odds that the bill will be enacted this year fell to 13% from 27% a month earlier. Analysts cited in the report say Bitcoin’s resilience despite potential bearish catalysts supports the view that the market may be nearing a bottom, although the timing and direction of final Clarity Act action remain uncertain.