According to the analytical platform CryptoQuant, the recent sharp rise in Bitcoin's price signals the beginning of a new bull market. The company noted that its Bitcoin Bull Score indicator jumped from 30 to 80 in just one week, marking the fastest shift in market conditions in the past year. According to CryptoQuant, the last significant hurdle for the official confirmation of this new bull market is the level around $83,000.
Since Monday, August 17th, Bitcoin has risen by approximately 24%, reaching the $80,000 mark. This is BTC's highest level since May 15th. CryptoQuant attributes this rise to two key macroeconomic factors that were viewed very positively by the market.
The first event was the announcement by the U.S. Treasury Department that, starting September 9th, the volume of long-term government bond buybacks would increase to at least $4 billion per transaction. The second important event was statements by U.S. President Donald Trump that the U.S. government might consider purchasing bitcoins.
According to CryptoQuant data, Bitcoin's valuation metrics have improved significantly. The platform's Bull Score indicator jumped from 30 to 80 in a week, reaching its highest level since October 6th, 2025. At that time, Bitcoin was trading at around $124,000. Eight out of the ten tracked indicators are currently signaling a bullish trend.
Demand-side data also confirms the market shift. CryptoQuant reported that visible spot demand for Bitcoin has shown its fastest monthly growth since the end of December. Furthermore, demand on both spot and futures markets began to rise simultaneously for the first time since early October 2025.
According to the platform, the simultaneous rise in valuation metrics, demand, and liquidity indicates that Bitcoin has entered the initial phase of a new bull market. However, CryptoQuant asserts that to finally confirm this market shift, Bitcoin needs to close above its 365-day moving average, which is currently around $83,000.
CryptoQuant warned that although medium-term and long-term prospects have improved, the Bitcoin market may be overheated in the short term.
The unrealized profit margin of traders has risen to 20.5%, reaching its highest level since June 2025. Meanwhile, large market players recorded a record realized profit of $614 million on August 20th.
Simultaneously, an increase in the inflow of Bitcoin, Ethereum, and XRP to cryptocurrency exchanges suggests that investors may be transferring their assets to exchanges for sale. Therefore, CryptoQuant stated that it would not be surprising if Bitcoin faces resistance around $83,000 or experiences a correction typical of the beginning of a bull market.
In the platform's view, such a correction might more likely be a healthy step to digest the recent 24 percent surge rather than the end of the uptrend.
In its assessment, CryptoQuant stated that the market situation has now turned bullish, but investors should closely monitor the 365-day moving average at the $83,000 level for confirmation of the new bull market.
*This is not investment advice.
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