The Bitcoin Cycle Momentum on-chain indicator from analytics platform CryptoQuant has entered positive bullish territory for the first time in eight months, historically marking the end of prolonged downturns. Bitcoin surged rapidly from $62,000 to $81,000, accompanied by a massive transfer of coins from panicked retail investors to long-term holders. In August, large wallets holding at least 100 BTC accumulated approximately 60,000 BTC while small investors sold nearly 47,000 BTC. Capital inflows are confirmed: U.S. spot Bitcoin ETFs recorded their strongest weekly investor inflows in the past 10 months, with over $470 million in USDC stablecoins flowing into major exchanges.
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