Bitcoin's Bull Score Hits 80 as On-Chain Demand Grows—But $83K Close Needed to Confirm

Bitcoin has entered the early stages of a new bull market. CryptoQuant's proprietary Bull Score index surged to 80 from 30 over the past week—the highest level since October 2025—with eight of its 10 underlying indicators now signaling bullish conditions.

The shift is supported by accelerating spot demand. For the first time since early October 2025, both spot and futures demand are growing in tandem, indicating broad-based buying pressure.

A definitive confirmation of a new bull market requires Bitcoin to achieve a weekly close above its 365-day moving average, currently positioned around $83,000. Historically, Bitcoin's bull markets have officially begun when price surpasses this threshold, serving as a critical confirmation point for sustained upward momentum. At the time of writing, Bitcoin was trading around $79,000.

Joel Kruger, a market strategist at LMAX Group, highlighted the May 2026 high of $82,820 as an important level. A decisive breach above this price point would strengthen the view that a significant cycle low is established.

CryptoQuant has issued a warning that the recent rally may be overheated in the short term based on several on-chain metrics indicating profit-taking activity. Traders' unrealized profit margins have climbed to 20.5 percent—the highest level since June 2025. When this metric reached 19 percent in early May with Bitcoin near $82,000, the asset subsequently fell by approximately 30 percent.

Short-term holder whales realized significant profits between Aug. 20 and Aug. 22, totaling about $1.2 billion. A record single-day profit-taking event of $614 million occurred on Aug. 20, when Bitcoin traded between $78,000 and $79,000.

Bitcoin exchange inflows rose to approximately 53,000 BTC, reaching their highest level since June. Elevated exchange deposits typically indicate coins moving onto trading platforms where they can be sold.

A clear break above the $82,820 to $83,000 range would reinforce the view of a meaningful cycle low and shift market attention toward the next major resistance at $100,000.

The shift is supported by accelerating spot demand. For the first time since early October 2025, both spot and futures demand are growing in tandem, indicating broad-based buying pressure.

A clear break above the $82,820 to $83,000 range would reinforce the view of a meaningful cycle low and shift market attention toward the next major resistance at $100,000.