Cryptoquant's Bull Score Jumps to 80, But $83k Is Still the Real Test

Cryptoquant's Bull Score has made its biggest jump in over a year, surging from 30 to 80 in just one week as Bitcoin rallied to $81,000.

The indicator, which blends measures of market demand, investor profitability, network activity, and liquidity, now shows eight out of ten underlying indicators flashing bullish signals.

This rapid shift is a far cry from the depths of market stress seen earlier this year when Cryptoquant's Bull Score fell as low as 20.

Despite the impressive recovery, Cryptoquant is still cautious, requiring a weekly close above $83,000 to confirm a new bull market.