ChainThink report, August 26: According to CryptoQuant, Bitcoin has surged 24% since August 17, with prices briefly touching $80,000, marking the highest level since May 15.

During the same period, CryptoQuant's Bullish Score rose from 30 to 80—the strongest bullish reading since October 2025, with 8 out of 10 indicators signaling bullish momentum.

The report attributes this rally to macroeconomic and political factors: the U.S. Treasury plans to increase its long-term Treasury bond buyback size to at least $4 billion per auction starting September 9, while President Trump hinted that the government might consider purchasing Bitcoin.

Spot apparent demand is growing at the fastest monthly pace since late December of last year, and spot and futures demand are expanding in sync for the first time since October 2025.

However, the bull market still requires confirmation—Bitcoin’s closing price must break above the current 365-day moving average near $83,000.

Short-term market overheating signs are emerging: trader unrealized profit rate has climbed to 20.5%, whales realized $614 million in profits on August 20, and increased inflows into BTC, ETH, and XRP exchanges may introduce short-term selling pressure.