CryptoQuant says Bitcoin has entered initial phase of new bull market

Bitcoin's recent 24% rally has triggered a shift in market indicators tracked by on-chain analytics firm CryptoQuant, which characterizes the movement as the start of a new bull market phase. The firm points to $83,000 as a critical level that would solidify this transition if sustained. However, CryptoQuant also cautions that investors taking profits at current levels could introduce near-term volatility, even as the underlying technical picture has turned constructive.

• On-chain indicators have swung bullish following Bitcoin's 24% appreciation, though the move remains early-stage.
• $83,000 serves as the confirmation threshold; breaking and holding above this level would signal a more durable bull market has begun.
• Near-term profit-taking could create pullbacks despite the bullish technical setup.