Svmuu News: Cryptoquant reports that its 365-day PnL index signal continues to trend downward, indicating that the current BTC cycle may not have peaked yet. BTC is currently trading at around $62,656, down approximately 50% from its all-time high of about $126,000 in October 2025. Cryptoquant’s bull-bear cycle indicator turned green on May 12, 2026, marking the first bullish signal since March 2023.
Cryptoquant noted that the indicator produced a false positive in 2022, and a green signal alone does not guarantee a sustained uptrend. A whale purchased $98.9 million worth of BTC at the June 5 low of $59,734 and realized a profit of $3.5 million within two days after the market rebounded. BTC has since remained above $60,000 and was trading at approximately $62,550 at the time of publication. (Bitcoin.com News).