Bitcoin Flips into New Bull Market with $83K Hurdle Ahead

Bitcoin has entered a new bull market regime according to CryptoQuant, after its Bull Score surged from 30 to 80 in just one week. This is the fastest reversal in a year.

The firm calls it a significant shift, but there's still one hurdle left before the bull market can be officially confirmed: Bitcoin must close above its 365-day moving average of $83,000 today.

The recent price surge has been driven by two macro catalysts. The US Treasury announced that it will double long-term bond buybacks to at least $4 billion per operation from September 9. Additionally, markets rallied after a hint suggested Washington may buy BTC directly.

CryptoQuant's Bull Score is a composite of 10 on-chain and market metrics, which now reads its most bullish since October 6, 2025. Eight of the 10 inputs currently flash green, indicating strong demand and a growing trend in Bitcoin's favor.