ChainCatcher reports that CryptoQuant says Bitcoin, following a 24% rally, has seen key on-chain and demand indicators turn bullish, entering the early stage of a new bull market. CryptoQuant’s Bull Score index rose from 30 to 80 over the past week, reaching its highest level since October 2025, with eight out of ten indicators signaling bullish momentum. Bitcoin briefly surpassed $80,000 during the rally, but CryptoQuant notes that a weekly close above the 365-day moving average—currently around $83,000—is required to confirm the shift into a new bull market. Joel Kruger, Market Strategist at LMAX Group, also stated that Bitcoin’s next major resistance level is the May 2026 high of $82,820; breaking above this level would reinforce the view that the cycle bottom has formed and propel prices toward $100,000 and beyond toward the 2025 all-time high. Despite the bullish signals, CryptoQuant warns that the short-term rally may be overheating: unrealized profit rates have reached 20.5%, the highest since June 2025; short-term holder whales realized approximately $1.2 billion in profits between August 20 and 22, with a single-day record of $614 million on August 20. Bitcoin exchange inflows have also risen to around 53,000 BTC, the highest since June, indicating more coins are moving onto exchanges.
Bitcoin Enters Early Bullish Phase as CryptoQuant Identifies $83,000 as Key Level
ChaincatcherShare
Summary
Bitcoin is showing early signs of a bullish trend, with the Bull Score index rising to 80—the highest level since October 2025. Eight out of ten indicators signal strength, and the price briefly surpassed $80,000. A close above $83,000, the 365-day moving average, would confirm the shift. LMAX’s Kruger identifies $82,820 as a key resistance level. CryptoQuant warns of potential overheating, with 20.5% unrealized profits and $1.2 billion in whale realizations. Exchange inflows reached 53,000 BTC, a six-month high.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.