Bitcoin enters ‘initial phase’ of new bull market, but $83K remains key: CryptoQuant

CryptoQuant says Bitcoin has entered the “initial phase” of a new bull market, citing supportive on-chain metrics indicating early buying pressure. Despite the bullish signals, the firm identifies $83,000 as a key resistance level that must be reclaimed to confirm a sustained uptrend. If Bitcoin fails to breach and hold above $83K, the rally could stall and revert to consolidation or corrective pressure. The implication for market participants is to treat the current move as early-stage upside and monitor $83K as the critical confirmation point for broader bullish continuation.