Bitcoin enters the early stage of a new bull market, CryptoQuant states that $83,000 is the key

CryptoQuant stated that after a 24% increase, key on-chain indicators and demand metrics for Bitcoin have turned bullish, entering the early stages of a new bull market. The agency's Bull Score index surged from 30 to 80 over the past week, reaching its highest level since October 2025, with 8 out of 10 indicators showing bullish signals.

During the rise, Bitcoin briefly broke through $80,000, but CryptoQuant pointed out that a weekly closing price above the 365-day moving average (currently around $83,000) is needed to confirm the transition to a new bull market. LMAX Group market strategist Joel Kruger also stated that the next significant threshold for Bitcoin is the May 2026 high of $82,820; breaking this level would reinforce the view that a cycle bottom has formed and push the price towards $100,000 and even the historical high of 2025.

Despite the bullish signals, CryptoQuant warned that the short-term rally may be overheating. The unrealized profit margin for traders reached 20.5%, the highest since June 2025; short-term holder whales realized about $1.2 billion in profits between August 20 and 22, with a record $614 million on August 20 alone. Bitcoin exchange inflows also rose to about 53,000 coins, the highest since June, indicating that more tokens are moving to trading platforms.