CryptoQuant: Bitcoin has left the bear market, enters early bull phase

ChainCatcher reports that analysts at crypto research firm CryptoQuant say Bitcoin has moved out of the bear market, though they warn a short-term correction could follow. CryptoQuant founder Ki Young Ju wrote on social media that Bitcoin has entered the early stage of a bull market, arguing the current price action resembles patterns seen ahead of the previous bull-market cycle. CryptoQuant research also points to renewed capital inflows into derivatives exchanges, which it views as confirmation that traders have shifted back into a risk-on posture—a signal historically linked to the start of a new bull run. CryptoQuant analyst Theophiluspep said spot demand, ETF flows and broader market momentum have turned decisively bullish. At the same time, elevated profit-taking, increased exchange inflows and overbought readings indicate the market may be due for a near-term pullback. Bitcoin climbed steadily last week, up 22% over the past seven days. It was recently trading at $78,716 after briefly touching $81,160 on Monday. In June and July, Bitcoin largely traded below $65,000. U.S. investors also flipped to net buying last week. Farside Investors data shows Bitcoin ETFs posted their strongest weekly inflow since October, with institutional products tied to BlackRock, Fidelity, Grayscale and Morgan Stanley drawing $1.9 billion in new capital. Separately, after the U.S. Treasury said last week it plans to at least double its long-term Treasury buyback program, yields fell, fueling synchronized gains in Bitcoin and gold.