Bitcoin Bull Score Hits 80 as Market Eyes $83K Weekly Close

Bitcoin's Bull Score has surged to its highest reading in over 10 months, reaching 80 after a rapid 24% price increase. This marks the first time since October 2025 that the score has reached such levels, indicating a possible bull market is underway.

The Bull Score combines various indicators of market demand, investor profitability, network activity, and liquidity to assess whether Bitcoin is trading in a favorable or unfavorable environment. Currently, eight out of the index's ten indicators are sending bullish signals, signaling a strong potential for continued growth.

However, CryptoQuant emphasizes that a weekly close above $83,000 is still necessary to confirm a new bull market. This level serves as a long-term dividing line between improving and weakening market conditions. If Bitcoin fails to maintain its price above this threshold through the weekly close, it may not be considered a reliable indicator of a bull cycle.

Despite the Bull Score reading, there are concerns about potential pullbacks due to short-term whale profits and exchange deposits. Traders' unrealized profit margins have reached 20.5%, their highest level since June 2025, and large short-term holders have already converted part of their paper gains into realized profits.