BTC Enters Early Bull Market Phase, $83K Remains Key Barrier

On August 26, according to Cointelegraph data, the latest chart from crypto analytics firm CryptoQuant shows that Bitcoin (BTC) has now entered the "Initial Phase" of a new bull market. Based on historical market cycle models, this phase typically features months of range-bound bottoming and sharp volatility, but this is precisely the typical characteristic before a major trend launch.

CryptoQuant specifically emphasized that $83,000 is a key level that cannot be ignored at present. Although the macro structure supports a bullish outlook, the firm noted that due to a large amount of trapped supply overhead, if this resistance zone is not broken on strong volume, there remains a risk of pullback. Only after effectively holding above this level can the upside space be truly opened.

[TechFlow]