CryptoQuant analysts say Bitcoin exits the bear market and enters the early bull phase.

ChainCatcher report: Analysts from cryptocurrency research firm CryptoQuant believe Bitcoin has exited the bear market but may experience a short-term correction. Ki Young Ju, founder of CryptoQuant, posted on social media that Bitcoin has entered the early stage of a bull market, noting that the current price action mirrors patterns observed prior to the previous bull market cycle. CryptoQuant’s research shows that capital inflows into derivative exchanges have resumed, confirming traders have shifted into a risk-on mode—a signal historically associated with the start of a new bull market. Analyst Theophiluspep from the firm stated that while Bitcoin is entering a bull market, spot demand, ETF fund flows, and market momentum have turned positively bullish; however, elevated profit-taking, exchange inflows, and overbought conditions suggest a potential short-term pullback. Bitcoin rose steadily last week, gaining 22% over the past seven days and recently trading at $78,716, briefly touching $81,160 on Monday. Prior to this, Bitcoin had mostly traded below $65,000 in June and July. U.S. investors reversed their stance last week, buying Bitcoin ETFs in the strongest weekly inflow since October, according to Farside Investors data, with institutional funds managed by BlackRock, Fidelity, Grayscale, and Morgan Stanley attracting $1.9 billion in new capital. Additionally, following the U.S. Treasury’s announcement last week to at least double its long-term Treasury buyback program, yields declined, prompting synchronized gains in Bitcoin and gold.