Bitcoin enters ‘initial phase’ of new bull market, but $83K remains key: CryptoQuant

cointelegraph发布于2026-08-25更新于2026-08-25

文章摘要

According to analytics firm CryptoQuant, Bitcoin has entered the initial phase of a new bull market following a 24% price rally. Key on-chain and demand indicators have turned bullish, with the firm's Bull Score Index surging to 80, its highest level since October 2025. However, CryptoQuant states that a sustained weekly close above the 365-day moving average, currently around $83,000, is needed to confirm the market shift. The move is supported by accelerating spot demand, with both spot and futures demand growing simultaneously for the first time since early October 2025. Analyst Joel Kruger also identified the May 2026 high near $82,820 as a critical resistance level, with a break above potentially targeting $100,000 and new record highs. Despite the bullish outlook, CryptoQuant warns of potential short-term overheating. Indicators such as rising trader profits (unrealized margins at 20.5%), significant profit-taking by short-term holder whales (around $1.2 billion realized over three days), and a spike in Bitcoin deposits to exchanges suggest the rally may face near-term pressure. Bitcoin was trading near $79,000 at the time of reporting.

Bitcoin has entered the early stages of a new bull market after a 24% rally pushed key onchain and demand indicators into bullish territory, according to CryptoQuant.

The analytics firm’s Bull Score jumped to 80 from 30 over the past week, hitting its highest level since October 2025 as eight of the index’s 10 underlying indicators now flashing bullish.

Bitcoin (BTC) climbed above $80,000 during the rally, but CryptoQuant said a weekly close above its 365-day moving average, currently around $83,000, is needed to confirm the shift to a new bull market.

The shift has been supported by accelerating spot demand, while spot and futures demand are growing together for the first time since early October 2025, CryptoQuant said.

LMAX Group market strategist Joel Kruger also pointed to the May 2026 high of $82,820 as the next important level for Bitcoin.

“A clear break above that level would reinforce the view that a meaningful cycle low is now in place and shift attention towards the next major move through $100,000 and, ultimately, the 2025 record high,” Kruger told Cointelegraph.

At the time of writing, Bitcoin was trading around $79,000, according to CoinGecko data.

Bitcoin Bull Score Index. CryptoQuant report

Related: Bitcoin ETFs add $338M as six-day inflow streak hits $2.26B

Whales take profits as Bitcoin rally heats up

Despite the bullish signals, CryptoQuant warned that the rally may be overheated in the short term, pointing to rising trader profits, heavy profit-taking by whales and a spike in Bitcoin deposits to exchanges.

Traders’ unrealized profit margins have climbed to 20.5%, their highest since June 2025. CryptoQuant noted that Bitcoin fell about 30% after the metric reached 19% in early May, when BTC was trading near $82,000.

Short-term holder whales realized about $1.2 billion in profits between Aug. 20 and Aug. 22, including a record $614 million on Aug. 20, as Bitcoin traded near $78,000 to $79,000, according to the report.

Bitcoin exchange inflows also climbed to roughly 53,000 BTC, their highest since June, signaling that more coins are moving onto trading platforms where they could be sold.

Magazine: Korean bank taps Ripple for payments, Pakistan opens crypto licensing: Asia Express

相关问答

QAccording to CryptoQuant, what level does Bitcoin need to close above on a weekly basis to confirm the shift to a new bull market?

ABitcoin needs a weekly close above its 365-day moving average, which is currently around $83,000, to confirm the shift to a new bull market.

QWhat was the record amount of profit realized by short-term holder whales on August 20, according to the CryptoQuant report?

AShort-term holder whales realized a record $614 million in profits on August 20, as Bitcoin traded near $78,000 to $79,000.

QWhat is the 'next important level' for Bitcoin mentioned by LMAX Group market strategist Joel Kruger, and what would a break above it signal?

AThe next important level is the May 2026 high of $82,820. A clear break above that level would reinforce the view that a meaningful cycle low is in place and shift attention towards a move through $100,000 and the 2025 record high.

QWhat evidence from CryptoQuant suggests the current rally might be overheated in the short term?

AEvidence suggesting the rally might be overheated includes rising trader unrealized profit margins (now at 20.5%), heavy profit-taking by whales, and a spike in Bitcoin deposits to exchanges (roughly 53,000 BTC, the highest since June).

QWhat is the significance of spot and futures demand growing together for the first time since early October 2025?

ASpot and futures demand growing together for the first time since early October 2025 is significant because it indicates a broad-based demand recovery, which is supporting the shift to a new bull market phase.

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