Bitcoin Surges 20 Percent, Bulls Eye $100K as Whale Profit-Taking Worsens

Bitcoin has surged over 20 percent in recent days, leading analysts to believe that it may be entering an early stage of a new bull market. According to CryptoQuant, the 'bull score' for Bitcoin has risen to 80 from 30 in just one week, with eight out of ten indicators now pointing to bullish signals.

This surge in demand indicators is significant, as it suggests that the market may be shifting towards an upward cycle. However, there are still some concerns, including rising exchange inflows and short-term profit-taking pressure from whales.

Market analyst Joel Kruger points out that a key price level to watch for will be around $82,820, which was reached in May 2026. A clear break above this level would strengthen the view that a meaningful cycle bottom has been formed, and could lead to a re-entry into an up cycle.

Despite these positive signs, there are still some warning signs on the horizon. Traders' unrealized profit margins have reached 20.5 percent, the highest since June 2025, which may indicate that the market is overheating.