Is Bitcoin Out of Its Bear Market? These Analysts Think So

According to Bitcoin Magazine, analysts at CryptoQuant report that bitcoin has exited its bear market and entered an early bull phase. CryptoQuant founder Ki Young Ju noted that the asset is behaving similarly to past cycles prior to a bull market. Research from the firm indicates that derivative exchange flows have resumed, reflecting a risk-on mode among traders.

Analyst Theophiluspep stated that spot demand, market momentum, and ETF flows have turned bullish, while noting that elevated profit-taking and exchange inflows indicate a potential near-term cooldown. The shift is reportedly driven by institutional ETF buying and spot demand rather than excessive leverage.

Bitcoin recently traded at $78,716, surging after sluggish months in June and July when it traded mostly below $65,000. U.S. investors reversed course last week to buy bitcoin exchange-traded funds, which recorded $1.9 billion in new cash according to Farside Investors data. This follows the Treasury Department's announcement to double long-dated bond buybacks, which preceded falling yields and a rising bitcoin price. Additionally, President Donald Trump urged lawmakers to pass the Clarity Act following a meeting with crypto executives.