Bitcoin Up 22% to $78,716 as CryptoQuant Flags Early Bull Phase

Two independent outlets, Bitcoin Magazine and BeInCrypto, reported this week that CryptoQuant analysts have declared bitcoin out of its bear market. The confirmed part of the story: bitcoin traded around $78,716 after a 22% gain over seven days, briefly touching $81,160 on Monday, and CryptoQuant founder Ki Young Ju said on X that the asset had “entered into the early bull phase.” A second claim, that CryptoQuant’s Bull Score jumped from 30 to 80 in a single week, the fastest such move in a year, appears in only one of the two reports and has not been independently verified against CryptoQuant’s own data.

What Two Sources Confirm

Ju pointed to bitcoin flows into derivative exchanges resuming, a pattern he said has historically confirmed traders entering “risk-on” mode and “has marked the start of a new bull cycle” in prior periods. That observation matches the price action both outlets logged: bitcoin is having its third-best August on record, up roughly 25% for the month, after a sluggish June and July when the coin mostly traded sideways.

Another CryptoQuant analyst, cited under the handle Theophiluspep, offered a more qualified read. “Spot demand, ETF flows, and market momentum have turned decisively bullish, but elevated profit-taking, exchange inflows, and overbought conditions suggest a potential near-term cooldown,” the analyst wrote. The same note added: “This looks increasingly like a genuine regime shift into the early phase of a new bull market, driven more by improving spot demand and institutional ETF buying than by excessive leverage.” Both claims, the price levels and the CryptoQuant commentary, appear across the two independent reports, which is the bar this desk sets before treating a market call as more than a single-source echo.

The $83,000 Level Is Single-Sourced So Far

BeInCrypto framed the story around a specific number: an average near $83,000 that it says will decide whether the current move qualifies as a full bull market, alongside a Bull Score reading that reportedly moved from 30 to 80 within a week. Neither figure appears in the Bitcoin Magazine account, and the underlying methodology behind the Bull Score, what inputs feed it and how it is calculated, was not laid out in the material available for this article. Readers building on this data point should treat it as one outlet’s reporting until a second independent source or CryptoQuant’s own published dashboard confirms it.

This distinction matters for anyone pulling numbers into a trading model or a smaller news desk repackaging the story. A price level like $78,716 or $81,160, tied to a specific day and corroborated twice, sits on firmer ground than a proprietary score reported by one outlet and not yet cross-checked.

Why the Case Rests on Spot Demand, Not Leverage

The core argument from CryptoQuant’s analysts is that this rally looks different from leverage-driven spikes that have preceded past corrections. Institutional ETF buying and spot demand, rather than derivatives positioning, are doing the work this time, according to Theophiluspep. At the same time, the same analyst flagged rising exchange inflows and overbought conditions as reasons a short-term pullback remains plausible even inside an early bull phase.

Bitcoin’s move from a sideways June and July to a 22% weekly gain and a brush with $81,160 is well documented across both reports. Whether that constitutes a confirmed bull market, or whether the $83,000 threshold and the 30-to-80 Bull Score jump hold up under scrutiny, is a question this desk will keep tracking as more sources publish their own readings of the same underlying data.

Read more: Bitcoin Posts Largest-Ever Weekly Dollar Gain, Holds Above $77,000

Sources

• bitcoinmagazine.com
• beincrypto.com