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Bitcoin still sits within a broader downtrend, but multiple lower- and mid-timeframe indicators are beginning to suggest a potential bottom may be forming. Price has reclaimed the 50-day moving average and continues to hold above the 200-week moving average—a level that has historically separated bull and bear markets. The context is encouraging. Despite headwinds such as Michael Saylor's $BTC sale, the Coldcard security incident, and ongoing quantum computing concerns, Bitcoin has continued grinding higher rather than breaking down. That's often the kind of resilience seen near major lows. That said, several key resistance levels still need to be reclaimed before a sustained bull run can be confirmed. These include the multi-year trend channel, the previous cycle high around $69K, and the 3-day 50 MA. The most likely scenario remains a period of consolidation and volatility before a decisive breakout. Even so, the overall outlook is becoming increasingly constructive. Looking ahead, the biggest potential catalysts remain geopolitical developments involving Iran, progress on the CLARITY Act, advances in the quantum narrative, and the U.S. midterm elections. Everything else is likely to have a smaller impact on the broader trend.