CryptoQuant's Bull Score surged from 30 to 80, signaling early-stage bull market as Bitcoin climbs to $80,000, though confirmation requires a break above $83,000.
Macro & Markets ·
Bitcoin surged 24% from mid-August and touched $80,000 as CryptoQuant's Bull Score climbed from 30 to 80, marking its strongest reading since early October 2025. Eight of ten on-chain indicators are now bullish, and both spot buying demand and futures activity are expanding in tandem for the first time since October 2025. Spot demand momentum has reached its fastest monthly rate since December.
The analytics firm contends Bitcoin is in the opening phase of a bull cycle, though full confirmation hinges on a daily close above $83,000, the level of the 365-day moving average. This threshold has not yet been breached.
Near-term headwinds persist. Traders' unrealized profit margins climbed to 20.5%—the highest since June—while large holders crystallized a record $614 million in gains on August 20. Rising inflows of Bitcoin, Ethereum, and XRP into exchanges suggest potential selling pressure may emerge in the coming days.