Bitcoin Enters Bull-Phase as $83K Test Looms

Bitcoin has moved into the early stages of a new bull market after a sharp rebound pushed several of CryptoQuant’s market measures back into bullish territory. The analytics firm said the latest 24% advance has materially improved the picture for both onchain conditions and demand trends, even as traders continue to watch for signs of short-term volatility.

CryptoQuant’s Bull Score climbed to 80 from 30 in the space of a week, its strongest reading since October 2025. Eight of the index’s 10 components are now showing bullish signals, marking a clear improvement in market breadth after the recent recovery.

Demand Strength Returns

One of the more notable changes has been the pickup in spot demand. CryptoQuant said spot and futures demand are expanding at the same time for the first time since early October 2025, suggesting broader participation in the move higher. Bitcoin also traded back above $80,000 during the rally, reinforcing the shift in tone across the market.

That said, CryptoQuant stopped short of declaring the trend fully confirmed. The firm said Bitcoin needs a weekly close above its 365-day moving average, which is currently near $83,000, to validate the transition into a new bull market. Until then, the latest move is better understood as an early-stage recovery rather than a completed regime change.

Key Levels Still in Focus

The $83,000 area is not the only level being watched. LMAX Group market strategist Joel Kruger said the May 2026 high of $82,820 is also an important reference point for the market. A decisive move through that zone would strengthen the case that the current rebound has more staying power.

At the same time, the rally has begun to encourage profit-taking. CryptoQuant warned that increasing selling into strength could create near-term turbulence, even if the broader setup remains constructive. That combination often leaves the market vulnerable to sharper intraday swings while traders test whether buyers can absorb supply.

For now, the message from the data is mixed but leaning positive. Momentum has improved, demand has strengthened, and the internal indicators are firmer than they were a week ago. The remaining hurdle is whether Bitcoin can hold above the key moving-average threshold long enough to turn the latest bounce into a more durable advance.

This article is not investment advice and recommends no asset, level or direction; a single session's move is not evidence of a trend. For background see Crypto, Altcoin, Bitcoin, and for terms the finance glossary.