Key Highlights
- BTC rallied approximately 28% over eight days, reaching $81,265āa 15-week peakābefore retracing under $80,000.
- CryptoQuant’s Bull Score climbed from 30 to 80, marking its strongest reading since October 2025.
- Confirmation of a fresh bull cycle requires a weekly close above $83,000, according to CryptoQuant analysis.
- Whale investors holding short-term positions realized approximately $1.2 billion in gains from Aug. 20 through Aug. 22.
- BlackRock led US spot Bitcoin ETF inflows with $209 million on Aug. 24, contributing to total net inflows of $338 million.
Bitcoin reached $81,265 on Tuesday, marking its strongest price level in nearly 15 weeks, before experiencing a pullback beneath $80,000 as market participants secured gains.
This surge followed an eight-day upward trajectory of roughly 28%, rebounding from depths near $62,000 and injecting approximately $350 billion into Bitcoin’s total market capitalization.
The weekly performance ranked as Bitcoin’s second-strongest in the last five years.
In a single week, Bitcoin successfully reversed three full months of downward price action.
Market analyst Bull Theory documented the milestone on social platforms, stating: “Bitcoin hits $80,000 for the first time in almost 15 weeks. It is now up 28% in the last 8 days adding $350 BILLION to its marketcap. BTC has now wiped out 3 months of losses in just 1 week.” The commentary underscored the remarkable speed of the sentiment reversal.
Data from CryptoQuant revealed its Bull Score Index surged from 30 to 80 during the past week, achieving its peak reading since October 2025. Currently, eight out of ten underlying metrics within the index are displaying bullish characteristics.
The blockchain analytics platform noted that spot and futures market demand are expanding simultaneously for the first time since early October 2025.
Critical Resistance at $83,000
CryptoQuant has established a definitive threshold: Bitcoin must achieve a weekly close above its 365-day moving average, presently positioned near $83,000, to formally validate a new bull market cycle.
LMAX Group’s market strategist Joel Kruger identified May 2026’s peak of $82,820 as another critical resistance zone. In comments to Cointelegraph, he suggested a decisive breakthrough above this level would “shift attention towards the next major move through $100,000.”
At the time of publication, Bitcoin was exchanging hands around $79,000.
Large Holder Distribution Poses Near-Term Headwinds
Despite encouraging momentum indicators, CryptoQuant identified potential short-term obstacles. Large holders with short-term positions crystallized roughly $1.2 billion in profits from Aug. 20 to Aug. 22, with a single-day record of $614 million recorded on Aug. 20.
Unrealized profit margins among active traders climbed to 20.5%, the most elevated level since June 2025. CryptoQuant observed that Bitcoin experienced approximately a 30% correction when this indicator reached 19% in May.
Bitcoin deposits to exchanges increased to approximately 53,000 BTC, the highest volume since June, indicating a greater number of coins are being transferred to venues where they can be liquidated.
On the institutional front, US spot Bitcoin ETFs registered $338 million in net capital inflows on Aug. 24. BlackRock’s IBIT dominated with $209 million. Spot Ether ETFs similarly captured $116 million during the same trading session, with BlackRock’s ETHA representing $90.92 million of that total.
Bitcoin’s RSI registered at 78.71, positioning the asset in overbought conditions following its swift eight-day ascent.
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