CryptoQuant data signals Bitcoin’s potential new bull phase, though profit-taking and exchange inflows raise short-term caution.
Bitcoin’s Bull Score Index indicates the start of a new bull market, yet resistance at $83K remains critical. Recent data shows traders’ unrealized profits hit 20.5%, the highest since June 2025, raising overheating concerns.
Bitcoin ETFs recorded $338M in inflows, extending a six-day streak to $2.26 billion. However, short-term holder whales took $1.2 billion in profits between Aug. 20-22, including a $614 million record on Aug. 20 when BTC traded near $78,000-$79,000.
Exchange inflows surged to 53,000 BTC, the highest since June, suggesting increased selling pressure. A similar profit-taking spike in May preceded a 30% drop when BTC neared $82,000.