CryptoQuant's 'Bull Score' index — a metric the analytics firm uses to assess Bitcoin's transition into a new phase — has rocketed from 30 to 80 over the past week, hitting its highest level since October 2025 and representing, according to the firm itself, the fastest change in market conditions since the start of this year.
This occurred against the backdrop of Bitcoin rising by almost 25% over the past ten-plus days: it briefly surpassed the $81,000 mark before falling back towards $79,000. Eight of the index's ten underlying indicators, which consider metrics for market demand, investor profitability, network activity, and liquidity, are now signaling a bullish trend.
Furthermore, for the first time since early October 2025, demand for Bitcoin on the spot and futures markets is rising simultaneously — CryptoQuant views this combination as a stronger signal than growth from either source of demand individually.
U.S. spot Bitcoin ETFs confirmed this trend in practice: in the week ending August 21, the funds attracted approximately $1.9 billion in net inflows — the highest figure since October 2025, extending a streak of inflows that Bitcoin.com News has been closely monitoring.
$83,000 — The Real Test
CryptoQuant is taking a tough stance before declaring this a confirmed bull market. The company's researchers want to see a weekly close above the $83,000 mark, which roughly corresponds to Bitcoin's current 365-day moving average.
The company views this average as a long-term boundary between improving and deteriorating market conditions, and until the price closes above this level for a full week, CryptoQuant characterizes the current move only as the "initial phase" of a potential new cycle, not its confirmation.
This reversal sharply contrasts with the situation at the start of the year, when CryptoQuant's Bull Score index fell to 20 out of 100 amid strong market pressure — a level the firm associated with fading demand and weakening support. It also differs from the signal of the company's separate 'Bull/Bear Cycle' indicator, which in May entered the green zone for the first time since March 2023, demonstrating the many overlapping on-chain metrics CryptoQuant now uses to determine Bitcoin's position within its cycle.
end-content
