Bitcoin has advanced into the early phase of a potential new bull market after a 24% surge sent demand and onchain metrics to their strongest levels in nearly two years, according to analysis from CryptoQuant.
Indicators flash bullish after surge
CryptoQuant’s Bull Score indicator climbed to 80, up from 30 just a week earlier, marking its highest reading since October 2025. The firm attributed this jump to eight out of ten of its tracked indicators now reflecting bullish conditions.
During this rally, Bitcoin rose to more than $80,000. However, CryptoQuant stated that BTC still needs to secure a weekly close above its 365-day moving average, now around $83,000, to formally confirm the bull market shift.
The analytics provider highlighted that spot demand is gaining momentum, with both spot and futures orders increasing together for the first time since early October 2025. This simultaneous growth in spot and derivatives markets is being closely watched as a sign of market strength.
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AAPLLMAX Group market strategist Joel Kruger identified the May 2026 high of $82,820 as a technical milestone for Bitcoin, suggesting that exceeding this level could set the stage for further gains.
Key resistance and market levels
Kruger said a decisive break above $82,820 would bolster the outlook that Bitcoin has established a significant cycle low, potentially putting the $100,000 mark and the all-time high from 2025 back in focus for traders.
A clear move past $82,820 would strengthen the belief that Bitcoin’s cycle bottom has been reached, opening the path toward $100,000 and challenging the 2025 record high.
At last report, Bitcoin was trading near $79,000, based on CoinGecko data.
Investment inflows have continued, with spot Bitcoin ETF products recording $338 million in new inflows as part of a six-day streak totaling $2.26 billion.
Risk of overheating despite bull momentum
Despite growing optimism, CryptoQuant advised caution in the near term. The firm pointed to indicators that the rally could be overheating, highlighting rising realized trader profits, significant profit-taking by whales, and spikes in BTC transfers to exchanges.
Traders’ average unrealized profit margins have reached 20.5%, the highest since June 2025. CryptoQuant cited its data showing that after unrealized profits crossed 19%—as happened in May when Bitcoin traded near $82,000—the price dropped by about 30%.
Short-term whales have realized approximately $1.2 billion in profits between August 20 and August 22, including a record $614 million on August 20, as Bitcoin fluctuated between $78,000 and $79,000.
Bitcoin exchange inflows have also increased significantly, reaching roughly 53,000 BTC—the highest since June. This movement suggests more coins are being transferred to trading platforms, potentially raising the risk of further selling pressure.
Tracking these sharp moves and resistance levels is critical for active traders. In a market where a single Federal Reserve announcement or a surprise altcoin listing can shift prices in seconds, switching between multiple apps for news, charts, and portfolio monitoring often leaves investors a step behind. For greater efficiency, more traders are now turning to privacy-first services like CryptoAppsy, where real-time charts, smart price alerts, coin-specific updates, and essential macro data come together in one account-free platform.
Meanwhile, cryptocurrency market activity in Asia continues to show robust growth, with Korean banks adopting Ripple’s network for payments and Pakistani authorities moving forward with crypto licensing frameworks.
