- Bitcoin has entered the early stages of a new bull market after its Bull Score Index jumped to 80 from 30, hitting its highest level since October 2025.
- A weekly close above the 365-day moving average, currently around $83,000, is needed to confirm the shift, as the asset trades near $79,000.
- Whales are taking significant profits, with short-term holders realizing about $1.2 billion in profits between Aug. 20 and Aug. 22.
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 flash bullish.
Bitcoin 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. The move has been supported by accelerating spot demand, with spot and futures demand growing together for the first time since early October 2025.
LMAX Group market strategist Joel Kruger pointed to the May 2026 high of $82,820 as the next important level. “A clear break above that level would reinforce the view that a meaningful cycle low is now in place,” Kruger told Cointelegraph, adding that it would shift attention toward $100,000 and the 2025 record high.
Despite the bullish signals, CryptoQuant warned the rally may be overheated in the short term. Traders’ unrealized profit margins have climbed to 20.5%, their highest since June 2025, and Bitcoin fell about 30% after the metric reached 19% in early May.
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. At the time of writing, Bitcoin was trading around $79,000, according to data from CoinGecko.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
