According to The Block,
CryptoQuant has released an analysis stating that while recent market dynamics suggest a shift toward bullish territory, official confirmation requires the price of bitcoin (BTC) to surpass $83,000. This assessment is based on historical patterns observed in previous cycles.
The firm notes that historically, these bull markets are considered “officially” underway only when the asset’s trading price moves above its 365-day moving average. Currently, while market sentiment may be optimistic, this specific technical threshold remains unmet to validate a full transition into bullish status according to the data provided by CryptoQuant.
The analysis highlights that breaking through $83,000 is not merely about price appreciation but serves as a critical filter for distinguishing between temporary rallies and sustained bull runs. Market participants are therefore advised to monitor this specific level closely, as crossing it would mark a definitive change in the asset’s classification based on long-term moving average benchmarks.
Without clearing this hurdle, experts from CryptoQuant maintain that caution is warranted regarding claims of an immediate bull market entry. The data underscores the importance of technical indicators over sentiment alone when evaluating major cryptocurrency assets like bitcoin during pivotal moments such as August 2026. Until the price clears $83,000 and establishes a higher trajectory above its annual average, CryptoQuant’s metrics do not support labeling this current phase as an officially confirmed bull market.
Investors watching these developments should focus on whether BTC can sustain momentum past this resistance point to align with historical precedents set by the 365-day moving average rule.
