The video analyzes Bitcoin using the 'supply in profit and loss' metric, available on intothecryptoverse.com. This metric identifies market cycle bottoms historically when the 'supply in profit' crosses the 'supply in loss'. The video mentions that cycle tops cannot be identified using this metric. Applying a 30-day moving average (SMA) identifies when over 90% of the supply is in profit, potentially signaling an upcoming pullback. As of June 1st, the 30-day SMA is at 96.71%. The speaker expects strength may continue into late May/early June, then a pullback in Q3, around August/September, with a possible low near $57000.