Bitcoin enters ‘initial phase’ of new bull market, but $83K remains key: CryptoQuant
Summary
Bitcoin is showing early bull-market signals after a 24% rally pushed CryptoQuant’s Bull Score to 80 from 30, with 8 of 10 indicators now bullish. BTC moved above $80,000, but a weekly close above the 365-day moving average near $83,000 is still needed to confirm a new bull market. Spot demand is strengthening, and spot and futures demand are rising together for the first time since early October 2025. Key resistance is around $82,820, with a breakout potentially opening the way toward $100,000 and the prior record high. Short term, conditions may be overheated: unrealized trader profits are high, whales are taking profits, and exchange inflows have risen to about 53,000 BTC, suggesting potential selling pressure.
