A bearish pattern resembling the "Bart Simpson" formation has appeared on the Bitcoin chart, drawing attention from analyst Benjamin Cowen.
— Benjamin Cowen (@benjamincowen) September 1, 2026
The "Bart Simpson" pattern is not a technical indicator but a well-known graphical formation among crypto traders. It consists of a sharp price movement either upwards or downwards, followed by a narrow sideways range, and then a quick return to the initial price level. It got its name due to its resemblance to the hairstyle of the character from "The Simpsons" and has been associated with Bitcoin since 2015.
For this current formation to complete, Bitcoin would need to quickly correct, retracing a significant portion of its August rally. Mati Greenspan, founder of Quantum Economics, believes this would require a drop of about 20%, although he does not see this scenario as likely.
He noted that such dynamics were more typical of Bitcoin in its early days, when the market was less liquid and mature. With the increase in trading volumes and the influx of institutional investors, sharp price movements have become less frequent.
Between Support and Resistance
As of the time of writing, Bitcoin is trading around $77,700, having fallen by 0.3% in the last 24 hours and by 1.3% over the week.
Hourly BTC/USDT chart from Binance. Source: TradingView.After surging above $80,000 in August, Bitcoin failed to maintain those levels, drawing attention to areas where potential buyers and sellers are concentrated.
According to Glassnode, the nearest significant support has formed around $62,000-65,000, where active accumulation occurred over the summer. Above the market, in the $83,000-86,000 range, a substantial volume of supply from long-term holders is concentrated.
Liquidation concentration map for Bitcoin futures. Source: Glassnode.Experts suggest that an increase in the share of profitable coins could add further pressure. When Bitcoin was trading around $78,000 in May, approximately 65% of the supply was profitable. By the end of August, with a similar price point, this figure had risen to 68%.
However, other indicators are providing less bearish signals. CryptoQuant noted that Bitcoin Cycle Momentum has entered positive territory for the first time in eight months. A contributor on the platform, known as Gaah, interprets this as a sign of a potential weakening of the downtrend.
Bitcoin Cycle Momentum Signals a Bear Market Reversal
“This signal indicates a high probability that BTC is on track to break out of the downtrend and reverse the bear market.” – By @gaah_im pic.twitter.com/Y4xKnyRCUG
— CryptoQuant.com (@cryptoquant_com) September 2, 2026
Nonetheless, this reversal is not yet confirmed. The analyst stated that the indicator needs to rise to the 20-30 range in the coming weeks alongside further price recovery. Currently, it is just slightly above the zero mark.
Institutional Momentum Weakens
The situation remains mixed in the institutional segment as well. According to Glassnode, the average daily inflow into U.S. spot Bitcoin ETFs peaked at $290 million over a week. However, the trading volume for these funds stayed around $3 billion per day, lower than levels seen during more stable growth phases.
Inflows into spot Bitcoin ETFs. Source: Glassnode.The options market also does not indicate strong expectations for further upward movement. Following a short squeeze, the 25-Delta Skew returned to neutral levels.
As of the September 25 expiration, there is around $14 billion in open interest for options on Deribit and IBIT, with a significant portion concentrated on strikes above $80,000.
Another influencing factor is the U.S. Treasury market. The yield on ten-year Treasury bonds has returned to 4.8%, having previously fallen to about 4.6%, marking a new peak in the current cycle. Glassnode emphasized that this increase puts additional pressure on risk assets.
It is worth noting that after the remarks from Federal Reserve Chair Kevin Warsh at the end of August, Bitcoin’s price dropped from a local maximum of $81,455 to $76,877.