Bitcoin Enters Early Stage of New Bull Cycle, Says CryptoQuant
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CryptoQuant said on August 25 that Bitcoin may be entering a new bull-market phase after valuation, demand and liquidity indicators turned higher, but the firm cautioned the shift needs further confirmation. BTC climbed about 24% from August 17 to reach $80,000, its highest since mid-May, signaling renewed crypto market strength with implications for Bitcoin adoption, token performance and liquidity.
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Bitcoin (BTC) may be entering a new bull-market phase, as several valuation, demand, and liquidity indicators have turned higher, according to CryptoQuant. The analytics firm outlined the shift in a research note published August 25, but said Bitcoin still needs further confirmation.
The assessment comes as BTC has also shown renewed price strength. The cryptocurrency climbed about 24% from August 17 and reached $80,000, its highest level since mid-May.
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