Bitcoin Enters Early Stage of New Bull Cycle, Says CryptoQuant

Demand is picking up around Bitcoin, but rising selling pressure could test the rally.

Bitcoin (BTC) may be entering a new bull-market phase, as several valuation, demand, and liquidity indicators have turned higher, according to CryptoQuant. The analytics firm outlined the shift in a research note published August 25, but said Bitcoin still needs further confirmation.

The assessment comes as BTC has also shown renewed price strength. The cryptocurrency climbed about 24% from August 17 and reached $80,000, its highest level since mid-May.

Bitcoin Rally Gains Broader Support

The rally came amid plans by the US Treasury to raise long-term bond buybacks to at least $4 billion per operation from September 9. It also followed comments from President Donald Trump about possible federal Bitcoin purchases.

These developments coincided with a sharp improvement in CryptoQuant’s market indicators. The firm’s Bull Score rose from 30 to 80 during the week, its strongest reading since October 6, 2025, when Bitcoin traded close to $124,000. Eight of its ten underlying indicators are now in bullish territory.

Demand conditions further supported the shift, with apparent spot demand expanding at its fastest monthly pace since late December. Spot and futures demand rose together for the first time since early October 2025, pointing to broader market participation.