The Bitcoin bull-bear cycle indicator has shifted to an "early bull" signal for the first time since March 2023, according to CryptoQuant analyst MorenoDV. Historically, this signal has marked the end of significant market corrections, as seen in early 2019 and early 2023. However, the current signal in May 2026 is less definitive, with other market indicators showing weakness. The analyst notes that while Bitcoin's 30-day moving average suggests improving momentum, the overall market conditions remain uncertain. The signal could indicate a local top rather than the start of a new bull market, unless further price movements confirm a sustained upward trend.