Bitcoin (BTC) Surges 28% in Eight Days, Reaching 15-Week Peak as Bull Market Indicators Strengthen

Key Highlights

• BTC climbed 28% over eight days, reaching a 15-week peak of $81,265 before retracing under $80,000.
• CryptoQuant’s Bull Score soared from 30 to 80, marking its strongest reading since October 2025.
• Analysts identify a weekly close above $83,000 as critical for confirming a fresh bull cycle, according to CryptoQuant.
• Large short-term holders secured approximately $1.2 billion in gains during Aug. 20–22.
• Spot Bitcoin ETFs in the United States attracted $338 million in net capital on Aug. 24, with BlackRock contributing $209 million.

Bitcoin reached $81,265 on Tuesday, marking its strongest price level in nearly 15 weeks, before experiencing a pullback beneath $80,000 as market participants realized gains.

Bitcoin (BTC) Price

This surge followed an impressive eight-day uptrend of roughly 28%, bouncing back from depths near $62,000 and injecting approximately $350 billion into Bitcoin’s total market capitalization.

The weekly performance ranked as the second-strongest for Bitcoin over the last five years.

In a remarkable reversal, Bitcoin has now completely eliminated three months of declines within a single week.

Market analyst Bull Theory documented the milestone on social media, stating: “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 its marketcap. BTC has now wiped out 3 months of losses in just 1 week.” The commentary underscored the dramatic shift in market psychology.

According to CryptoQuant, its Bull Score Index surged from 30 to 80 during the previous week, achieving its strongest reading since October 2025. Currently, eight out of the index’s ten component indicators are displaying bullish signals.

Source: CryptoQuant

The blockchain analytics platform noted that spot market and futures demand are increasing in tandem for the first time since early October 2025.

$83,000: The Critical Threshold to Watch

CryptoQuant has established a definitive milestone: Bitcoin requires a weekly closing price above its 365-day moving average, presently positioned near $83,000, to officially validate a fresh bull market cycle.

Joel Kruger, market strategist at LMAX Group, identified the May 2026 peak of $82,820 as another significant resistance point. He informed Cointelegraph that a decisive breakthrough above this zone would “shift attention towards the next major move through $100,000.”

At the time of publication, Bitcoin was changing hands around $79,000.

Large Holder Distribution and Correction Concerns

Notwithstanding the optimistic indicators, CryptoQuant highlighted potential short-term headwinds. Large-scale short-term holders locked in approximately $1.2 billion in profits during Aug. 20 through Aug. 22, including a peak of $614 million on Aug. 20.

The unrealized profit margin among traders reached 20.5%, the highest level recorded since June 2025. CryptoQuant observed that Bitcoin experienced roughly a 30% decline when this indicator touched 19% in May.

Bitcoin deposits to exchanges climbed to approximately 53,000 BTC, their highest volume since June, indicating increased coin movement to venues where liquidation can occur.

From an institutional perspective, US spot Bitcoin ETFs recorded $338 million in net capital inflows on Aug. 24. BlackRock’s IBIT dominated with $209 million. Spot Ether ETFs similarly drew $116 million on the same date, with BlackRock’s ETHA contributing $90.92 million.

Bitcoin’s RSI registered 78.71, positioning it within overbought territory after the swift eight-day ascent.

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