Written by Nate Kostarstaff writerReviewed by Robert Lakinstaff editor

Written by Nate Kostarstaff writer

Reviewed by Robert Lakinstaff editor

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

MarketsPublishedAug 25, 2026

CryptoQuant says Bitcoin’s 24% rally has flipped key market indicators bullish, though rising profit-taking could bring near-term turbulence.

Bitcoin has entered the early stages of a new bull market after a 24% rally pushed key onchain and demand indicators into bullish territory, as reported by 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 stated 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 stated.

LMAX Group market strategist Joel Kruger also pointed to the May 2026 high of $82,820 as the next crucial 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, as reported by 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 pointed out 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, as reported by 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

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

• Bitcoin Price
• Bitcoin Analysis
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• Bitcoin

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