Bitcoin (BTC) is in a new bull market after closing above its 365-day moving average, CryptoQuant said, as founder Ki Young Ju predicted 3x to 5x gains this cycle.
Key Points:
- CryptoQuant says Bitcoin closed above its 365-day moving average for the first time since March 2023.
- The firm sees the next resistance between $88,000 and $90,000 after BTC cleared a heavy supply zone.
- Ki Young Ju expects this cycle to bring 3x to 5x gains, not another 10x rally.
Bitcoin Reclaims 365-Day Average
The on-chain analytics firm said in its weekly report Tuesday that Bitcoin broke above its 365-day moving average near $80,500 and then climbed past $86,000, its first such move since March 2023. CryptoQuant noted that crossings above that line came before bull markets in 2019 and 2023, while drops below it in late 2021 and November 2025 marked new bear markets.
The firm's Bull Score has stayed in bullish territory since mid-August and now reads 80, well above the 60 mark that has historically lined up with strong markets. Its Bull-Bear Market Cycle Indicator has also moved from an early bull phase into a full bull phase. CryptoQuant said the alignment of all three signals gives much stronger confirmation than any single one.
Bitcoin also pushed through a $76,000 to $81,000 zone where long-term holders and seven-year-old coins had sold heavily this year. The firm put the next resistance at $88,000 to $90,000 and warned that profit-taking becomes more likely near $90,000, while the 200-day average near $70,600 remains key support.
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Ki Young Ju Expects Calmer Cycle
Ju wrote Tuesday that he expects this cycle to deliver 3x to 5x rather than another 10x-plus parabolic rally. He also expects a milder bear market to follow. He did not say which price the multiple starts from, so the call describes the scale of the whole cycle rather than a target from today's level.
He argued that a much larger market and growing institutional ownership now dampen both the explosive rallies and the 80% crashes that retail money once fueled. Ju noted that the MVRV ratio, which compares market value with holders' average cost basis, never fell below 1 this cycle, while older whales have stopped selling and futures whales built long positions near the bottom.
Spot Bitcoin exchange-traded funds drew $999 million on Monday, their biggest daily intake in roughly 11 months, and another $715 million on Tuesday. That four-session streak, which began Sept. 17, has brought in about $2.31 billion. BlackRock's IBIT led Tuesday's buying with roughly $350 million.
The rebound follows a rough stretch in which Bitcoin slid from a record near $126,000 in early October 2025 and plunged to about $58,000 in late June, its lowest level since 2024. It traded near $87,000 on Wednesday, up more than 14% over the past seven days.
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