Bitcoin Rises 28% in Eight Days to 15-Week High as Bull Market Signals Strengthen
Key Takeaways
- •Bitcoin gained 28% over eight days to touch a 15-week high of $81,265, rebounding from levels near $62,000 and adding roughly $350 billion to its market capitalization before easing back below $80,000.
- •CryptoQuant's Bull Score Index jumped from 30 to 80, its strongest reading since October 2025, with eight of its ten components now flashing bullish signals.
- •CryptoQuant said a weekly close above the 365-day moving average near $83,000 would confirm a new bull market cycle, while LMAX strategist Joel Kruger identified the May peak of $82,820 as resistance, beyond which attention could shift to $100,000.
- •Large short-term holders realized about $1.2 billion in gains from Aug. 20 through Aug. 22, and the unrealized profit margin among traders reached 20.5%, the highest level since June 2025.
- •U.S. spot Bitcoin ETFs recorded $338 million in net inflows on Aug. 24, led by BlackRock's IBIT with $209 million, while Bitcoin deposits to exchanges rose to about 53,000 BTC, the highest since June.
Bitcoin climbed 28% over eight days, reaching a 15-week high of $81,265 before pulling back below $80,000 as traders took profits.
The move marked a sharp recovery from levels near $62,000 and added about $350 billion to Bitcoin’s total market capitalization. The weekly gain was also described as Bitcoin’s second-strongest over the past five years. Market analyst Bull Theory highlighted the turnaround on social media, writing: “Bitcoin hits $80,000 for the first time in almost 15 weeks. It is now up 28% in the last 8 days adding $350 BILLION to it's marketcap. $BTC has now wiped out 3 months of losses in just 1 week.”
According to CryptoQuant, its Bull Score Index jumped from 30 to 80 over the past week, the strongest reading since October 2025. The analytics platform said eight of the index’s 10 components are now flashing bullish signals. It also noted that spot market and futures demand are rising together for the first time since early October 2025, a combination that often draws close attention because it reflects activity across both cash and derivatives markets rather than in one segment alone.
CryptoQuant said Bitcoin must close a week above its 365-day moving average, currently near $83,000, to confirm a new bull market cycle. Joel Kruger, market strategist at LMAX Group, pointed to the May 2026 peak of $82,820 as another important resistance level. Speaking to Cointelegraph, he said a clear move above that area would “shift attention towards the next major move through $100,000.” At the time of publication, Bitcoin was trading around $79,000.
The rally has also been accompanied by sizable profit-taking. CryptoQuant said large short-term holders realized about $1.2 billion in gains from Aug. 20 through Aug. 22, including $614 million on Aug. 20 alone. The firm said the unrealized profit margin among traders reached 20.5%, the highest level since June 2025. CryptoQuant also noted that Bitcoin fell about 30% when this indicator reached 19% in May.
Exchange activity has also increased. Bitcoin deposits to exchanges rose to about 53,000 BTC, the highest level since June, indicating more coins are being moved to venues where they can be sold or liquidated. That makes the pace of follow-through buying and exchange inflows a key area to watch as the market digests the recent advance.
Institutional flows remained strong as well. U.S. spot Bitcoin exchange-traded funds recorded $338 million in net inflows on Aug. 24, led by BlackRock’s IBIT with $209 million. Spot Ether ETFs attracted $116 million on the same day, including $90.92 million into BlackRock’s ETHA. Those flows add another layer of context to Bitcoin’s rebound, since ETF demand has become a major channel for regulated market exposure.
Bitcoin’s relative strength index stood at 78.71, placing it in overbought territory after the rapid eight-day advance.
