CryptoQuant says Bitcoin has entered the initial phase of a new bull market. Bitcoin price reached $80,000, its highest level since May 15, following a 24% rally since August 17. CryptoQuant’s Bull Score jumped from 30 to 80 in one week, with eight of its ten underlying metrics now flashing bullish. Traders’ unrealized profit margins climbed to 20.5%, their highest since June 2025, while whales realized $614 million in profits on August 20. However, Bitcoin still needs to cross above its 365-day moving average, currently around $83,000, for the bull market to be officially confirmed.
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