3 reasons Bitcoin could enter a multi-month uptrend

Bitcoin sits at a sensitive stage after a prolonged decline, but several macroeconomic and on-chain signals point to a possible medium-term reversal. Many analysts expect a recovery that could last several months and point to three main reasons for optimism. The US ISM Manufacturing PMI recorded its second consecutive month of expansion, with February 2026 at 52.4%, slightly below January’s 52.6% but above expectations of 51.8%.

A reading above 50 ends a three-year contraction in manufacturing and can broaden investors’ risk appetite, creating room for capital to flow into Bitcoin. Analyst Joe Consorti highlighted the correlation between this index and Bitcoin’s price, saying, "Historically, this has lined up with the early start of BTC bull markets (excluding 2022)." On-chain data also points to a shift.

CryptoQuant’s Inter-Exchange Flow Pulse (IFP) measures flows between spot and derivatives exchanges, and large transfers to derivatives typically signal bullish positioning.

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