# Signs of a Cycle Bottom? 

_If we already bottomed, here's why_

May 20, 2026 • Michael Nadeau

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# Signs of a Cycle Bottom?

## If we already bottomed, here's why

Michael Nadeau
 May 20, 2026

 Hello readers,

 We’re now 7.5 months into the bear market, with BTC trading 39% off its all-time high. For now, the bear market structure remains intact after BTC failed to break the 200-day SMA and book two consecutive weekly closes above the Short-Term Holder Cost Basis.

 But now that the tide is shifting, what are the chances that we’ve already bottomed (at $60k)?

 We explore in this week’s edition of TDR Pro.

 Topics covered:

- [If We’ve Bottomed, Here’s Why](#if-weve-bottomed-heres-why)

- [Market Structure Update](#market-structure-update)

- [Macro Update](#macro-update)

- [Closing Thoughts & Portfolio Management](#closing-thoughts-portfolio-manageme)

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 Let’s go.

# If We’ve Bottomed, Here’s Why

## TDR Pro

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