Bitcoin Enters Early Bull Phase, CryptoQuant Says $83,000 Is Key

Bitcoin’s 24% rebound from its recent low has prompted investors to assess whether the cryptocurrency is beginning another sustained upcycle. On-chain analytics firm CryptoQuant says several market and blockchain indicators have turned bullish, placing Bitcoin in the initial phase of a new bull market. The call matters because early-cycle signals can improve sentiment and liquidity, but they do not by themselves confirm that the longer-term trend has decisively changed.

CryptoQuant said in its latest assessment that Bitcoin must close and hold above its 365-day moving average on a weekly basis, a threshold of about $83,000, before the bull market can be considered officially confirmed. Bitcoin has already rebounded 24%, but $83,000 remains the key dividing line. A sustained break could clear the way for the next leg higher, while failure to hold it would leave the recovery vulnerable.