Bitcoin Enters Early Stage of New Bull Cycle, Says CryptoQuant

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.