Cryptoquant’s Bitcoin Bull Score, an index used by the analytics firm to gauge market health, experienced a sharp increase from 30 to 80 in a single week, reaching its highest level since October 2025. This rapid shift coincided with a bitcoin rally of more than 24% that pushed the asset from below $64,000 to briefly top $81,000 before settling near $79,000.
According to the firm, eight out of the index's ten underlying indicators—which combine network activity, investor profitability, market demand, and liquidity—are currently flashing bullish. Furthermore, spot and futures demand for bitcoin are rising together for the first time since early October 2025, supported by U.S. spot bitcoin ETFs that recorded roughly $1.9 billion in net inflows during the week ending August 21.
Despite the strong momentum, Cryptoquant emphasizes that a weekly close above $83,000 is necessary to confirm a new bull market. This price level aligns approximately with bitcoin’s 365-day moving average, which the firm utilizes as a long-term dividing line between improving and weakening market conditions. Until a full weekly close is achieved above that threshold, Cryptoquant views the recent price movement as only the initial phase of a potential new cycle.
