Bitcoin has re-entered a bull market phase, driven by increased demand from whales and ETFs, according to CryptoQuant data. Since July, market demand has surged to approximately 62,000 coins per month, reminiscent of previous sharp price increases in late 2020, 2021, and 2024. Bitcoin recently surpassed the $116,000 mark, with projections suggesting a potential rise to between $160,000 and $200,000 by the end of the year.