According to CoinMeta, CryptoQuant research supervisor Julio Moreno stated that Bitcoin's closing price last week was above the 365-day moving average, confirming the start of a new bull market. After reaching a high of $87,400, Bitcoin's upward momentum weakened, and the unrealized profit margin for short-term traders on the chain rose to 33%, the highest level since December 2024. (Source: The Block)