CryptoQuant Head of Research Julio Moreno has announced a shift in Bitcoin 's market regime, stating that it has entered a bullish phase. In his assessment, virtually all tracked metrics point to the early stage of a new upward market cycle.
At the same time, the analyst highlighted two key technical conditions required for full confirmation of the new trend. According to his analysis, for an "official" transition into bull mode, Bitcoin must cross and hold above the 365-day moving average, which is currently near the $83,000 mark. Moreno also did not rule out the possibility of a short-term correction amid high levels of unrealized profit following the recent price rally and potential selling pressure due to a spike in Bitcoin inflows to cryptocurrency exchanges.
CryptoQuant CEO Ki Young Ju, for his part, stated that Bitcoin 's bear cycle has already ended. According to him, the company's corresponding indicator also signaled the start of an early bull market phase in January 2023, which confirms the reliability of the analytical methodology used.
In a new report, CryptoQuant analysts noted that Bitcoin retested the psychologically important $80,000 level but failed to sustain a hold above that mark. Demand for the asset was supported by inflows into U.S. spot exchange-traded funds (ETFs) and a decline in U.S. Treasury yields, which traditionally increases the appeal of risk assets. At the same time, further gains were constrained by profit-taking from current cryptocurrency holders.
According to on-chain data, nearly all major investor groups have returned to a profit zone. In particular, the unrealized profit metric stands at 21.1% for long-term holders, 13.4% for short-term holders, 13.9% for capital held between one day and one month, and 5.3% for the newest investors. Experts emphasized that this situation reflects a healthier market condition, while simultaneously increasing the potential for profit-taking across various categories of participants.
In the opinion of CryptoQuant analysts, a sustained breakout above the $80,000 level supported by ETF and spot demand could open the path for Bitcoin toward price targets in the $88,000–$90,000 range. At the same time, a loss of the $75,000–$76,000 support zone could weaken the profitability of short-term holders and accelerate corrective processes.
"The key question is not whether Bitcoin can briefly touch $80,000, but whether new demand can absorb selling from profitable holders," the experts concluded in their report.
Additional confirmation of the market regime shift comes from CryptoQuant's internal indicator called the Bull Score, which rose from 30 to 80 points in just one week. According to the platform's historical data, this is the fastest change in the indicator over the past year, which analysts also interpret as a signal that Bitcoin has entered a new bull market.
Previously, CryptoQuant CEO Ki Young Ju had already expressed the view that another parabolic growth cycle for Bitcoin remains possible in the medium term.
***
This material is prepared exclusively for informational purposes and does not constitute financial advice or a recommendation.