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Bitcoin nears a bull market signal but must clear $83,000
CryptoQuant says the 365-day moving average near $83,000 is the key threshold, and notes bitcoin has gained more than 25% since early last week.
Bitcoin is in the early phase of a new bull market, but onchain analytics firm CryptoQuant says it will not be “officially” confirmed until price closes above its 365-day moving average near $83,000, according to The Block.
The firm said bitcoin rallied more than 25% since early last week, trading as high as above $81,000 this week, and highlighted that a decisive break above $83,000 could confirm the turn while the level may act as initial resistance beforehand.
CryptoQuant attributed the push higher to two macro catalysts, the U.S. Treasury’s plan to double long-term government bond buybacks to at least $4 billion per operation starting Sept. 9, and President Donald Trump’s comments suggesting the U.S. government may consider buying bitcoin.
In addition, CryptoQuant said its Bull Score rose from 30 to 80 in one week, its strongest reading since Oct. 6, 2025, and it described short-term conditions as “overheated,” with traders and whales taking profits and exchange inflows rising across BTC, ETH, and XRP.
Latest closeBitcoin $78,412.16 ▼0.2%|Ethereum $2,473.13 ▲1.2%|XRP $1.382 ▼3.6%