Bitcoin’s market capitalization increased by more than $280 billion over the past 30 days to reach $1.54 trillion on September 2, 2026, while CryptoQuant’s Bitcoin Cycle Momentum returned to positive territory for the first time in eight months. The indicator measures the difference between CryptoQuant’s PnL (Profit and Loss) Index and its 365-day moving average, with positive readings historically associated with active bull cycles and negative readings with bear markets. The shift suggests Bitcoin bulls regained control for the first time in 2026, although CryptoQuant verified and pseudonymous author Gaah said confirmation would require the indicator to reach 20-30 in the coming weeks while prices continue recovering. Bitcoin was trading at $76,750, down 12.36% year-to-date, while 24-hour trading volume rose 0.3% to $30.04 billion. The price nevertheless gained more than 22% over the past 30 days, supported by institutional spot demand led by BlackRock Inc. (NYSE: BLK) and Strategy Inc. (NASDAQ: MSTR). Continued institutional demand could help extend the positive momentum, while Bitcoin whales may have contributed to the indicator’s move from negative to positive.