TLDR
- CryptoQuant’s Bitcoin Bull Score jumped from 30 to 80, its highest level since October 2025.
- Bitcoin has gained more than 25% since early last week, briefly moving above $81,000 before easing near $79,000.
- CryptoQuant says a weekly close above $83,000 could confirm the start of a new Bitcoin bull market.
- Eight of 10 CryptoQuant indicators are bullish, while spot and futures demand are rising together for the first time since October 2025.
- U.S. spot Bitcoin ETFs attracted about $1.9 billion in weekly net inflows, their strongest intake since October 2025.
Bitcoin’s rally has strengthened signs of a possible Bitcoin bull market, but CryptoQuant says one level still stands in the way. The analytics firm’s Bull Score jumped from 30 to 80 in one week, its highest reading since October 2025. Bitcoin price gained more than 25% since early last week and moved above $81,000. It eased toward $79,000 as traders watched whether demand could support another move higher.
Bitcoin Bull Market Faces $83,000 Test
CryptoQuant said Bitcoin must close a full week above $83,000 to confirm a new bull market. That level sits near the cryptocurrency’s 365-day moving average, which the firm uses to track long-term market direction.
According to CryptoQuant research head Julio Moreno, past bull markets started after Bitcoin moved above that average. Bear markets began when price fell below it. Until Bitcoin clears $83,000, the firm views the current rally as an early phase.
Eight of CryptoQuant’s ten market, network and valuation indicators now show bullish conditions. The Bull Score’s rise to 80 marks a change from earlier this year, when the index fell to 20 during weaker demand.
Spot and futures demand are rising together for the first time since early October 2025. CryptoQuant said this mix points to stronger spot buying while leverage returns to the market.
U.S. spot Bitcoin ETFs recorded about $1.9 billion in net inflows during the week ending August 21. That marked their strongest weekly intake since October 2025 and added support to the Bitcoin bull market case.
Profit-Taking Adds Near-Term Risk
CryptoQuant reported signs of short-term overheating. Traders’ unrealized profit margins climbed to 20.5%, the highest level since June 2025. Similar levels have previously encouraged investors to lock in gains.
Short-term holders realized $1.2 billion in profits between August 20 and August 22. They took $614 million on August 20 alone, the largest single-day total in that period.
Bitcoin inflows to exchanges reached about 53,000 BTC, the highest since June 5. Ethereum inflows rose to about 1.7 million ETH, while XRP inflows reached about 460 million XRP.
CryptoQuant said rising exchange inflows after a rapid rebound can point to selling, profit-taking, or hedging. Bitcoin’s next major test now remains a weekly close above $83,000 to confirm broader market strength.
